Google Unveils Blockchain Platform to Rival Stripe, Circle in Financial Sector

Google has revealed new details about its proprietary blockchain platform, the Google Cloud Universal Ledger (GCUL), positioning it as a neutral alternative to competing corporate blockchains from Stripe and Circle. Rich Widmann, Google's head of strategy for Web3, highlighted GCUL's design as a performant, credibly neutral Layer 1 blockchain with Python-based smart contracts.

The platform, currently on a private testnet, has been piloted with CME Group for tokenization and payments applications. Initial integration testing was completed in March, with plans to begin direct testing with market participants later this year and launch services by 2026.

Widmann emphasized GCUL's neutrality, contrasting it with blockchain platforms developed by payment companies that may face adoption barriers from competitors. "Tether won't use Circle's blockchain—and Adyen probably won't use Stripe's blockchain. But any financial institution can build with GCUL," he noted.

Designed to simplify account and asset management, GCUL aims to facilitate transfers on a private, permissioned network, offering financial institutions a versatile infrastructure solution.