Google Cloud’s head of Web3 strategy has recently highlighted the company’s Universal Ledger Layer-1 blockchain as a “credibly neutral” foundation for financial services, positioning it against competing platforms from Stripe and Circle.
In March, Google Cloud initially revealed its vision for the Universal Ledger by launching a pilot program in collaboration with CME Group. This initiative aims to leverage blockchain technology for wholesale payments and asset tokenization.
In a LinkedIn update, Rich Windmann, the head of Web3 strategy at Google Cloud, elaborated on the Google Cloud Universal Ledger (GCUL), stating, “GCUL encapsulates years of research and development at Google, offering financial institutions a unique Layer 1 solution that is both efficient and credibly neutral, and allows for Python-based smart contracts.”
Windmann emphasized the broad accessibility of GCUL, stating that “any financial institution can build with GCUL,” distinguishing it from the offerings of Stripe and Circle. He pointed out that major players like Tether and Adyen are unlikely to adopt Circle’s and Stripe’s blockchains, respectively, while GCUL remains open for all financial institutions.
Windmann also referenced a comparative chart of offerings from Stripe and Circle, created by fintech strategist Chuk Okpalugo, which now includes GCUL. Although detailed information remains limited, he assured that more technical specifications would be shared in the months ahead.