Google Cloud has announced the launch of its Layer 1 blockchain, designed to enable efficient digital payment systems for financial institutions and businesses.
Rich Widmann, Head of Strategy, confirmed that Google Cloud Universal Ledger is designed for any financial institution and can be managed directly by companies such as Amazon or Microsoft. The aim is for external organisations to operate GCUL themselves, helping them serve their customers more efficiently.
Google Cloud is optimising its blockchain capabilities with the development of a Layer-1 platform, the Google Cloud Universal Ledger (GCUL). The system aims to serve financial institutions and supports tokenized assets, settlements, and Python-based smart contracts.
Key design principles
GCUL is designed to be optimal, flexible, and secure. Its features include:
- Simplicity - GCUL is provided as a service and accessible through a single API, simplifying integration for multiple currencies and assets. It eliminates the need to build and maintain infrastructure. Transaction fees are stable and transparent, and invoiced monthly;
- Flexibility - GCUL provides optimal performance and can scale to any use case. It's programmable, allowing for payment automation and digital asset management. It integrates with the preferred wallet;
- Safety - GCUL is built with compliance in mind (e.g., KYC-verified accounts, outsourcing compliant transaction fees). It operates as a private and permissioned system (with the potential to become more open as regulations evolve), using Google's secure, reliable, durable, and privacy-focused technology.
The initiative, which is operating on a private testnet, was first announced in March 2025 through a joint pilot with the CME Group. The two companies announced plans to trial tokenization and wholesale payments on the distributed ledger, although they stopped short of labeling it a Layer-1 blockchain at that time.
Wodmann emphasised that GCUL is launching at a time when other corporate chains are advancing. For example, Stripe is currently developing its own Ethereum-compatible blockchain, called Tempo, which focuses on high-performance payments. Additionally, Circle is developing Arc to optimise utility for its USDC stablecoin. GCUL is designed to serve as a shared foundation for financial institutions, rather than an all-in-one product suite.
According to officials, the project is still in its early stages, but more technical details are expected in the upcoming months.
