The head of Web3 strategy at Google Cloud provided new insights on the Google Cloud Universal Ledger (GCUL), a layer-1 blockchain currently under development, via a LinkedIn post.
Rich Widmann outlined that the blockchain is a product of “years of R&D at Google,” intended to be credibly neutral while supporting Python-based smart contracts.
Widmann indicated that GCUL aims to function as an open infrastructure layer for financial institutions. He noted, “Tether won’t use Circle’s blockchain — and Adyen probably won’t use Stripe’s blockchain,” suggesting that Google’s neutral network could enhance adoption.
Stripe and Circle are also pursuing layer-1 blockchains, with Circle recently launching Arc, an open network focused on stablecoin finance, and Stripe developing a stealth project, codenamed Tempo, in collaboration with crypto venture firm Paradigm.
Source: Rich Widmann
According to Widmann’s chart, while Stripe is capitalizing on its $1.4 trillion payments network and Circle is focusing Arc on USDC, the Google Universal Ledger is envisioned as a “planet-scale” blockchain with billions of users and bank-grade capabilities.
Widmann stated that Google Cloud plans to release additional technical details about the blockchain “in the coming months.”
Google Cloud has been venturing into blockchain technology since at least 2018, beginning with the addition of Bitcoin data to its Big Query warehouse, later extending support to Ethereum and over a dozen other networks.
This initiative gained momentum in 2022 with the establishment of a dedicated Web3 division, which has since facilitated partnerships with firms like Coinbase, Polygon, and Solana.
Related: How to use Google Gemini for smarter crypto trading
Google Cloud tests Universal Ledger with CME
The Chicago Mercantile Exchange (CME) Group is collaborating with Google Cloud to pilot the Universal Ledger for tokenization and payments.
This partnership was announced in March, detailing a pilot for testing tokenized asset settlement and wholesale payment systems, although specific assets remain undisclosed, and full trials with market participants are set to commence in 2026.
CME chairman and CEO Terry Duffy remarked that the Universal Ledger could “deliver significant efficiencies for collateral, margin, settlement, and fee payments as the world moves toward 24/7 trading.”
By engaging in a pilot with CME, which realized record revenue of $1.7 billion in Q2 2025 across average daily volumes of 30.2 million contracts, Google is focusing on the fundamental infrastructure of global finance.
This update from Google regarding its layer-1 blockchain comes in the context of wider trends among tech and fintech firms developing their own blockchain solutions.
Plasma, a startup supported by Tether-related investors, announced in February plans to create a settlement-oriented layer-1 for USDt after securing $24 million in funding.
In June, Robinhood introduced tokenized US stocks and ETFs for European customers. Although these tokens are currently issued on Arbitrum, the company intends to transition them to its proprietary layer‑2 blockchain in the future.
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