Google Cloud is developing GCUL, a neutral Layer 1 blockchain designed for institutional finance, supporting Python-based smart contracts and cross-border payments, currently in a private testnet phase.

In partnership with CME Group, Google is testing wholesale payments and asset tokenization, with broader testing planned for later in 2025 and a full launch targeted for 2026.

GCUL features built-in regulatory compliance, including KYC and AML checks, positioning it as a trusted bridge between traditional financial systems and the future of tokenized assets.

The platform aims to modernize costly legacy payment systems, which cost an estimated $37 billion annually, by enabling near-instant transactions, low fees, and continuous availability to improve efficiency.

GCUL seeks to revolutionize capital markets by reducing settlement cycles from days to real-time, supporting on-chain issuance and management of assets like bonds, while complementing existing financial infrastructure.

The rise of stablecoins, with over $30 trillion in transaction volume in 2024, highlights the demand for efficient, programmable payments, which GCUL aims to facilitate through secure, compliant infrastructure.

The global payments industry, valued at nearly $3 trillion annually, faces issues like high fees and delays in cross-border transactions, challenges GCUL intends to address with faster, cheaper, 24/7 settlement.

Compared to traditional giants like PayPal and Visa, the expanding stablecoin market presents a significant growth opportunity for blockchain-based payment solutions like GCUL.

GCUL promises low-cost, near-instant transactions, reduced reconciliation efforts, minimized fraud risk, and streamlined compliance, offering a compelling upgrade to existing financial infrastructure.

Partnerships with CME Group focus on improving collateral, margin, and settlement processes, aligning with the shift toward continuous trading and real-time capital market operations.

GCUL’s neutrality and ecosystem-agnostic approach aim to attract a broad range of participants, differentiating it from competitors like Circle’s Arc and Stripe’s Tempo.

Designed for simplicity, scalability, and security, GCUL offers a single API for multiple currencies, scalable smart contracts, and a permissioned environment to ensure compliance and KYC verification.

Google’s strategy emphasizes collaboration with established financial institutions to facilitate adoption, rather than direct competition, reinforcing existing systems while introducing blockchain innovation.