Google Cloud is advancing its plans to launch a layer-1 blockchain aimed at providing neutral infrastructure for global finance.
The network is called the Google Cloud Universal Ledger (GCUL) and arrives at a moment when fintech competitors are developing their own distributed ledgers. Rich Widmann, Google’s head of Web3 strategy, shared fresh details about the project in a LinkedIn post Tuesday.
He described GCUL as a credibly neutral, high-performance blockchain designed for institutions. The platform supports Python-based smart contracts, making it accessible to developers and financial engineers.
“Any financial institution can build with GCUL,” Widmann said.
He emphasized that unlike other fintech-led chains, Google’s neutral infrastructure removes adoption barriers. Widmann contrasted GCUL with Stripe’s Tempo and Circle Internet Group Inc‘s (NYSE: CRCL) Arc, two other high-profile layer-1 efforts.
Stripe’s Tempo extends its existing merchant rails into a vertically controlled chain, effectively tying the network to its payments ecosystem. Circle’s Arc places its stablecoin, USDC, at the center.
The system promises lightning-fast settlement and built-in currency exchange, but it heavily depends on USDC’s adoption.
Google’s approach is different. GCUL functions as shared infrastructure rather than an ecosystem-specific network. It is designed to be neutral and accessible to any institution, from exchanges to payment providers.
Timelines also distinguish the projects. Circle has already begun piloting Arc, while Stripe targets a launch next year. Google, in partnership with CME Group (NASDAQ: CME), has completed initial GCUL integration. Broader testing is scheduled for later this year, with full services expected in 2026.
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Circle benefits from USDC’s global reach
Distribution capabilities further separate the networks. Additionally, Stripe can leverage over a trillion dollars in annual merchant payment flows. Circle benefits from USDC’s global footprint and liquidity integrations. Google brings the scale of its cloud platform, along with the ability to support billions of users and hundreds of institutions.
Features also create distinct positions. Arc focuses on speed and seamless foreign exchange. Tempo emphasizes merchant integration. Furthermore, GCUL prioritizes programmability through Python-based smart contracts and institutional-grade tokenization. Widmann argued that these differences create divergent positioning. Stripe’s and Circle’s ledgers serve their ecosystems well but may deter competitors. GCUL, by contrast, offers neutral ground for any institution, avoiding the perception of strengthening a rival.
The institutional-first focus is not new. In March, Google Cloud and CME jointly announced GCUL as a programmable distributed ledger for wholesale payments and asset tokenization. CME also completed the first integration and testing phase, calling the technology a potential breakthrough for collateral, settlement, and fee payments in markets moving toward 24/7 trading.
“At a time when Congress is encouraged to create landmark legislation for market structure, we are pleased to partner with Google Cloud,” CME Chairman and CEO Terry Duffy said in March. “GCUL could deliver efficiencies across margin and collateral management.”
CME and Google plan direct testing with market participants later this year. The company anticipates full services for 2026.
Widmann’s Aug. 26 comments add new detail to the roadmap. They reinforce GCUL’s role as broadly adopted infrastructure rather than a company-specific network. By positioning GCUL against Tempo and Arc, Google signals intensifying competition among major technology firms to define next-generation financial settlement rails.
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