Google Cloud Challenges Corporate Blockchain Giants with Neutral GCUL Ledger

Google Cloud has launched its proprietary Layer 1 blockchain, the Google Cloud Universal Ledger (GCUL), positioning the platform as a cross-border payment and asset settlement solution for financial institutions. Announced during a strategic briefing by Rich Widmann, Global Head of Web3 Strategy at Google Cloud, GCUL is designed to operate as a neutral infrastructure layer, allowing any financial institution to build on the network without being tied to a specific corporate ecosystem [1]. The platform is currently operating on a private testnet and leverages Google's global infrastructure to support potential billions of users and hundreds of institutional partners [2].

The initiative marks Google Cloud’s latest step into blockchain protocol development, moving beyond its historical role of hosting and supporting public blockchains. GCUL supports Python-based smart contracts, distinguishing it from most blockchain platforms that primarily use Solidity or other specialized languages [4]. The platform is being tested in a pilot with CME Group, one of the world's largest derivatives exchanges, which has already completed the first phase of integration testing. CME Group has described the technology as a step toward enabling low-cost, 24/7 settlement for collateral, margin, and fees [5]. The companies plan to begin direct testing with market participants later this year, with full services expected by 2026 [3].

GCUL is being marketed as a neutral alternative to existing corporate blockchains such as Circle’s Arc and Stripe’s Tempo. Widmann emphasized this neutrality, noting that competing stablecoin providers or payment processors often avoid using each other’s platforms—Tether will not use Circle’s blockchain, and Adyen likely will not use Stripe’s. However, any financial institution can build and operate on GCUL [4]. This neutrality contrasts with the more vertically integrated models of other players in the market, such as Circle and Stripe, each of which is developing blockchain infrastructure to support their core financial products [1].

Google Cloud’s foray into protocol development aligns with its broader investment in digital assets and Web3. The company has previously partnered with Coinbase for cloud payments, supported public blockchains like Solana, and increased its stake in Bitcoin miner CleanSpark [3]. With GCUL, Google aims to expand its role from infrastructure provider to protocol innovator, potentially competing directly with firms like Ripple, Circle, and Stripe, which have established themselves in the cross-border payments sector [6].

Widmann has indicated that GCUL is designed with scalability in mind, capable of operating at a "planet scale" and leveraging Google's existing global distribution network. He hinted that major technology firms such as Amazon or Microsoft could eventually participate in running GCUL, allowing them to serve their customers more effectively [2]. As the platform progresses, additional technical specifications and performance metrics are expected to be released in the coming months, further clarifying GCUL’s positioning in the institutional blockchain space.

Source:

[1] Google Cloud Reveals GCUL Layer 1 Blockchain for Cross Border Finance (https://thedefiant.io/news/blockchains/google-cloud-reveals-gcul-layer-1-blockchain-cross-border-finance-7ed41179)

[2] Google Cloud Unveils L1 Blockchain To Power Payments And Settlements (https://finance.yahoo.com/news/google-cloud-unveils-l1-blockchain-061224160.html)

[3] Google Challenges Ripple, Circle, Stripe With New L1 (https://www.mexc.com/news/google-challenges-ripple-circle-stripe-with-new-l1-cross-border-payments-platform/75423)

[4] Google Executive Positions Company's Blockchain Against Stripe, Circle (https://www.blockhead.co/2025/08/27/google-executive-positions-companys-blockchain-against-stripe-circle-rivals/)

[5] Google Cloud is Developing a Python-Based Layer 1 (https://cryptobriefing.com/institutional-blockchain-platform-gcul-launch/)

[6] Google Cloud has Announced its L1 Blockchain GCUL (https://www.chaincatcher.com/en/article/2200954)