The head of Web3 strategy at Google Cloud shared new details about the company's first-layer blockchain—Google Cloud Universal Ledger (GCUL)—through a LinkedIn post.
Rich Widmann described this blockchain as the result of "years of R&D" by Google, aimed at achieving trusted neutrality and compatibility with Python-based smart contracts.
According to Widmann, GCUL is designed to provide an open infrastructure layer for financial institutions. "Tether will not use Circle's blockchain—Adyen may also not use Stripe's blockchain," he stated, suggesting that the neutrality of Google's network could help expand adoption.
Stripe and Circle are also betting on first-layer blockchains. Circle recently launched Arc, an open network optimized for stablecoin finance, while Stripe is collaborating with crypto venture firm Paradigm on a secret project codenamed Tempo.
According to a chart shared by Widmann, while Stripe relies on its $1.4 trillion payment network and Circle centers Arc around USDC, Google Universal Ledger will be a "globally scaled" blockchain with billions of users and bank-grade functionality.
Widmann indicated that Google Cloud expects to release more technical details about the blockchain in the "coming months."
Google Cloud has been expanding its blockchain technology since at least 2018, when it added Bitcoin data to its Big Query repository and later expanded support for Ethereum and over a dozen other networks.
This push accelerated in 2022 with the establishment of a dedicated Web3 department, which has since formed partnerships with companies like Coinbase, Polygon, and Solana.
The Chicago Mercantile Exchange (CME) Group is currently collaborating with Google Cloud to test the tokenization and payment capabilities of the Universal Ledger.
This collaboration was disclosed in March when the two companies announced a pilot program to test tokenized asset settlement and wholesale payment systems—though specific assets were not disclosed, a full market participant trial is set to begin in 2026.
At that time, CME Chairman and CEO Terry Duffy stated that the Universal Ledger could "bring significant efficiency improvements to collateral, margin, settlement, and fee payments as the world shifts to 24/7 trading."
By partnering with CME on the pilot—an exchange that recorded $1.7 billion in revenue in Q2 2025 with an average daily trading volume of 30.2 million contracts—Google is targeting the core infrastructure of global finance.
Google's latest update on its first-layer blockchain comes amid a broader wave of tech and fintech companies developing their own blockchains.
Startup Plasma, backed by Tether-related investors, announced in February plans to build a settlement-focused first-layer blockchain for USDt after raising $24 million.
In June, Robinhood launched tokenized U.S. stocks and ETFs for its European customers. These tokens are currently issued on Arbitrum, but the company plans to migrate them to its own native second-layer blockchain in the future.
Related: Say goodbye to overnight wealth anxiety! Gen Z is mastering new ways to engage with Web3: experiencing the trendy while living grounded!
Original article: “Google outlines 'Universal Ledger' plan as institutional blockchain race heats up”
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