Binance News: CME Group and Google Cloud Collaborate on Asset Tokenization Pilot

In a move that underscores the growing convergence between traditional finance and blockchain technology, CME Group has announced a collaboration with Google Cloud for an asset tokenization pilot program. Here’s a closer look at the development and its potential implications.

CME Group Launches Tokenization Pilot with Google Cloud

CME Group has initiated a pilot program with Google Cloud to explore asset tokenization and streamline wholesale payment processes using blockchain. The companies announced the completion of the first integration and testing phase for Google Cloud Universal Ledger (GCUL), a permissioned blockchain infrastructure developed specifically for institutional finance. The pilot evaluates how GCUL can facilitate efficient, secure digital transfers across various use cases, including collateral management, margining, settlement, and fee payments. CME Group Chairman and CEO Terry Duffy said the effort aligns with recent federal calls for legislative clarity in financial market structure and reflects the exchange’s broader strategy to modernize core infrastructure.

Binance Suspends Employee for Insider Trading Using BNB Chain Data

Binance has suspended a team member for insider trading after an internal review confirmed they misused confidential BNB Chain data to buy tokens early and sell for profit. The exchange is working with authorities to take legal steps against the culprit and plans to strengthen internal controls. Users have linked the incident to Freddie Ng, who allegedly made $82,400 from insider trading of uDEX’s UUU token.