Google Cloud’s head of Web3 strategy, Rich Widmann, shared details on the company’s Google Cloud Universal Ledger (GCUL) blockchain. GCUL aims to be neutral and compatible with Python-based smart contracts, targeting financial institutions. Stripe and Circle are also investing in layer-1 blockchains. Google Cloud plans to release more technical details soon.

Google Cloud is testing Universal Ledger with the CME Group for tokenization and payments, aiming to enhance market efficiency. The collaboration was announced in March, with full market trials set for 2026. Google’s L1 blockchain update coincides with a trend of tech and fintech firms creating their own blockchains, such as Plasma and Robinhood.

Read more at Cointelegraph: Google’s Rich Widmann shares LinkedIn update on Universal Ledger blockchain