Google Cloud has introduced the Google Cloud Universal Ledger (GCUL), a permissioned layer-1 blockchain aimed at speeding up cross-border payments and asset settlement for financial institutions. The network, confirmed by Google Cloud’s head of Web3 strategy Rich Widmann, supports Python-based smart contracts and is being marketed as a neutral infrastructure layer that banks and payment processors can access through a single API with predictable monthly fees. GCUL is currently running in a private testnet and has already been integrated into a pilot with CME Group. The derivatives exchange is testing tokenized assets and wholesale payments on…
