Google Launches GCUL Blockchain to Rival Ripple Circle and Stripe

TLDR

Table of Contents

GCUL supports Python-based smart contracts for payment automation.
The platform offers KYC-verified accounts and regulatory compliance.
GCUL runs on a private testnet and supports digital asset transfers.
Google Cloud’s GCUL features a unified API for faster integration.

Google has entered the cross-border payments space with the launch of a new Layer-1 blockchain. The platform, called Google Cloud Universal Ledger (GCUL), aims to support global settlements and digital asset transfers. With this launch, Google challenges established providers like Ripple, Circle, and Stripe. The new system is built for financial institutions, offering secure, programmable, and scalable blockchain infrastructure in a permissioned network environment.

Google Launches GCUL for Cross-Border Payments

Google Cloud has introduced the Google Cloud Universal Ledger (GCUL), a new Layer-1 blockchain for cross-border settlements. The network is designed to help financial institutions manage payments and asset transfers with improved speed and efficiency. According to Google, GCUL focuses on simplicity, flexibility, and regulatory compliance.

Rich Widmann, Global Head of Strategy for Web3 at Google Cloud, said GCUL is not limited to specific partners or ecosystems. “Unlike proprietary networks, GCUL is open to all financial institutions,” Widmann shared on X. This structure differs from existing systems like those from Circle or Stripe, which are often tied to specific business models.

Source: X

GCUL supports Python-based smart contracts, allowing institutions to automate tasks such as payment flows and asset management. The platform is currently running in a private testnet. It will serve as a foundational infrastructure as Google expands its presence in the blockchain space.

Designed for Integration, Scalability, and Compliance

GCUL is designed as a service platform, offering a unified API to simplify the integration of different currencies and assets. Google said this setup allows institutions to connect to the network without needing to overhaul their existing systems. The system is built with scalability in mind and aims to handle high transaction volumes across various use cases.

Compliance is a key focus. The platform uses KYC-verified accounts and includes transaction fee structures that align with regulatory frameworks. Operating in a permissioned environment, GCUL is built to offer financial institutions more control and privacy in their operations.

The smart contract capabilities enable automation for several use cases, such as settlement tracking and digital asset transfers. GCUL’s permissioned setup ensures that only approved institutions and users can access and use the platform’s tools.

Google Enters the Tokenized Asset Race

The release of GCUL also reflects Google’s broader push into tokenized assets. The company had earlier partnered with the Chicago Mercantile Exchange (CME) to pilot tokenized financial products. With the new platform, Google is positioned to compete with Ripple’s XRPL, which recently reported high growth in tokenized real-world assets.

Other traditional financial players are also moving toward blockchain technology. Last week, Singapore’s DBS Bank announced a plan to issue tokenized structured notes on Ethereum. These developments signal rising interest among major institutions in using blockchain for asset settlement and issuance.

GCUL’s open infrastructure could appeal to partners that seek a neutral platform for building financial tools. Since Google offers wide cloud distribution and enterprise access, the new blockchain may become an option for banks and fintech firms looking to expand into digital finance.

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