{"id":28210,"date":"2025-08-27T10:20:02","date_gmt":"2025-08-27T07:20:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28210"},"modified":"2025-08-27T10:20:15","modified_gmt":"2025-08-27T07:20:15","slug":"google-unveils-blockchain-platform-for-banks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/google-unveils-blockchain-platform-for-banks\/","title":{"rendered":"Google Unveils Blockchain Platform for Banks"},"content":{"rendered":"

Google Cloud has introduced<\/a> the Universal Ledger (GCUL), a distributed ledger-based platform for financial institutions and capital market participants.<\/p>\n

GCUL operates as a service, simplifying account management in commercial banks and transfers between them. Access to the system is provided through a single API<\/span>.<\/p>\n

The platform enables nearly instantaneous cross-border payments with low fees, available around the clock. The system is designed to meet KYC<\/span> and other regulatory requirements. According to the statement, unlike public blockchains, transaction fees in GCUL are stable and transparent.<\/p>\n

The solution is aimed at banks and financial intermediaries. Google Cloud provides the infrastructure, while clients retain full control over their products. The company positions GCUL as a complement to existing business models, rather than a competitor.<\/p>\n

The platform also targets capital markets. It simplifies the issuance, management, and settlement of digital assets, including atomic swaps.<\/p>\n

Google Cloud describes its approach as “evolution, not revolution.” GCUL leverages the advantages of distributed ledger technology but relies on existing commercial bank money and financial regulation.<\/p>\n

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“All this talk of layer 1 blockchains has drawn attention to Google’s own L1. If you’re building [a network], it must stand out,”<\/em> said<\/em><\/a> Rich Widmann, head of Web3 strategy at Google Cloud.<\/em><\/p>\n<\/blockquote>\n

According to him, GCUL combines years of the corporation’s research and development. The platform provides financial institutions with a high-performance, “provably neutral” blockchain supporting smart contracts in Python.<\/p>\n

Widmann noted that Tether is unlikely to use Circle’s blockchain, nor Adyen Stripe’s, yet any financial institution can create products based on GCUL.<\/p>\n

He added that one of the world’s largest commodity exchanges, CME Group, is already using the Universal Ledger to explore tokenization and payment opportunities.<\/p>\n

According to Dragonfly investor Omar, the blockchain is in a closed testing phase.<\/p>\n

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Google dropping some details on its L1 blockchain (GCUL) over on LI<\/p>\n

Chain will feature python based smart contracts. Aims to be neutral infra built for finance w\/ \u201cnative commercial bank money on-chain\u201d, 24\/7 cap markets infra, payments and agentic capabilities. Looks like they\u2026 pic.twitter.com\/cB1vlq3Oyv<\/a><\/p>\n

\u2014 Omar (@TheOneandOmsy) August 26, 2025<\/a><\/p><\/blockquote>\n