Google Cloud has stepped into the global payment space by introducing a new blockchain platform called the Google Cloud Universal Ledger (GCUL). It is a Layer-1 blockchain built to handle cross-border payments and asset settlements. With this move, the technology giant is stepping directly into competition with Ripple, Stripe, and Circle, all of which provide infrastructure for global instant payments. Google Cloud Takes a New Approach to Settlements The Universal Ledger, also called GCUL, is designed to be a simple, flexible, and secure network. Rich Widmann, who leads web3 strategy at Google Cloud, explained that the ledger is being developed for financial institutions that want a trusted platform to settle payments and manage digital assets. Widmann said GCUL stands apart from competitors in several ways. It comes with Python-based smart contracts and is meant to serve as open infrastructure. He said the Universal Ledger would not act like a closed network where competitors refuse to work with each other. Instead, it is designed as a neutral layer where any financial institution can build. Additionally, it also operates in a private, permissioned environment where Know Your Customer (KYC) checks and compliance measures are built into every transaction. In his recent LinkedIn post, Widmann added that the project is poised to benefit from Google’s wide reach, giving it an advantage in distribution and adoption. Notably, GCUL is still running on a private testnet. Tokenized Assets Gain Strong Momentum in Finance The timing of this launch matches a bigger trend in financial markets, where tokenized assets are growing quickly. Industry reports show that the RWA tokenization market has grown 70% since the start of 2025 , reaching an all-time high of $26.5 billion. Platforms like Ripple’s XRP Ledger have also seen a big rise, with tokenized assets on the network jumping more than 2,200% in recent months. Traditional banks are beginning to take part too, with some already moving into this space. Singapore’s largest bank, DBS, recently announced that it will issue tokenized structured notes on the Ethereum blockchain network. In a new research paper, Web3 digital property company Animoca Brands says tokenized real-world assets may one day represent trillions of dollars in traditional finance markets. Google Deepens Its Push Into Blockchain and Crypto Google has already tested the waters through a partnership with the Chicago Mercantile Exchange, where the two piloted tokenized assets. This move signaled that Google is looking at blockchain beyond just payments. Google’s interest in blockchain and crypto can be seen in other steps it has taken. The company recently put more money into Bitcoin miner CleanSpark, showing that it believes digital assets will be important in the long run. In September 2024, Google Cloud also launched a Blockchain Remote Procedure Call (RPC) service. This tool helps crypto developers work with blockchain data more easily and improves how decentralized apps run. The post Google Cloud Introduces Universal Ledger for Global Settlements appeared first on TheCoinrise.com .
