Google Cloud Unveils ‘Universal Ledger’ Blockchain for Financial Institutions

28-Aug-2025 Crypto News Australia
  • Google Cloud is developing its own Layer-1 blockchain, the Google Cloud Universal Ledger (GCUL), specifically for banks and financial institutions to compete with platforms from companies like Circle and Stripe.
  • The GCUL will be a neutral, Python-based smart contract platform, with Google Cloud’s Rich Widmann arguing that this neutrality will make it more appealing to institutions that are hesitant to build on a competitor’s blockchain.
  • The blockchain is already in a private testnet with partners like CME Group for pilot programs focused on tokenisation and wholesale payments, and more technical details are expected to be released in the coming months.

Google Cloud is building its own layer 1, the Google Cloud Universal Ledger (GCUL), a Python-based smart contract blockchain tailored for financial institutions, according to Rich Widmann, Global Head of Strategy for Web3 at Google Cloud.

In a recent LinkedIn post, Widmann stated GCUL will compete against heavyweight projects like Circle and Stripe, citing a chart shared by Paxos product head Chuk Okpalugo. He argued that Google’s ledger is designed to be infrastructure-neutral.

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Source: Rich Widmann/LinkedIn.

Google Cloud Joins Circle and Stripe in Race for Financial Infrastructure

Tether won’t use Circle’s blockchain, and Adyen probably won’t use Stripe’s blockchain. But any financial institution can build with GCUL. We’ll be releasing more technical details in the coming months!

Rich Widmann, Global Head of Strategy for Web3 at Google Cloud.

This comes at the heels of Circle’s upcoming layer 1 chain, Arc, which is currently on public testnet in Q.3 and is built for stablecoin settlements, foreign exchange, and capital markets. Stripe is advancing Tempo, a high-throughput, EVM-compatible blockchain, in partnership with Paradigm, as per an exclusive report from Fortune.

GCUL first surfaced in March through a joint disclosure with CME Group, when the two firms announced pilot programs for tokenisation and wholesale payments on the network (though at the time it was not explicitly labeled a layer 1).

It’s worth noting that the announcement drew some mixed reactions over its heavily-centralised and permissioned system controlled by the company and its partners. Yet, at the end of the day we’re talking about a private blockchain, like many others aimed at institutions, so it makes sense. 

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The post Google Cloud Unveils ‘Universal Ledger’ Blockchain for Financial Institutions appeared first on Crypto News Australia.

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