TLDR
- Google Cloud has launched the Google Cloud Universal Ledger (GCUL) blockchain to compete with Ripple, Circle, and Stripe in the global payments market.
- GCUL is a Layer 1 blockchain designed for financial institutions. It offers faster, cheaper, and more transparent cross-border payments.
- The platform supports Python-based smart contracts and aims to simplify payment automation and digital asset management for banks and payment companies.
- Google’s approach to GCUL focuses on security, scalability, and compliance. A single API supports multiple currencies.
- Ripple, Circle, and Stripe are key competitors in the blockchain payments space, and each company is developing its own solution.
Google Cloud has launched a new blockchain platform called Google Cloud Universal Ledger (GCUL). The platform is designed to disrupt the global payments industry, competing with established players like Ripple, Circle, and Stripe. GCUL is currently in private testing, aiming to make cross-border payments faster, cheaper, and more transparent.
Google’s L1 Blockchain Targets Financial Institutions
Rich Widmann, head of Google Cloud’s Web3 strategy, confirmed that GCUL is a Layer 1 blockchain. The platform is tailored to financial institutions, enabling faster payment processing and reducing costs. Widmann stated,
“We aim to help banks and payment companies modernize their services without the complexities of traditional systems.”
GCUL supports Python-based smart contracts, making it a versatile solution for payment automation and digital assets. The platform focuses on scalability, security, and compliance, offering a single API for multiple currencies. This approach simplifies the process for financial institutions while maintaining high standards of security and regulatory adherence.
GCUL Competes With Ripple, Circle, and Stripe
Ripple, Circle, and Stripe are already building blockchain solutions for cross-border payments, making the competition fierce. Ripple’s XRP is widely used for fast remittances, while Circle recently launched its Arc blockchain to compete. Stripe is testing its Tempo platform, focusing on developers to simplify payment systems.
However, Google aims to set GCUL apart by offering a neutral and open solution for any financial institution. The platform is designed to be permissioned but compliance-focused, using Google’s secure technology to ensure KYC-verified accounts. Google’s approach is more flexible than that of competitors, allowing financial companies to benefit from modernized infrastructure.
GCUL’s Potential to Transform Payments
GCUL is tapping into a rapidly growing market. Stablecoin volumes surged in 2024, reaching $30 trillion in transactions. This far exceeds the combined volume of PayPal and Visa, signaling significant demand for blockchain-based payment systems.
By offering lower fees, instant settlement, and compliance tools, Google aims to capture a share of this growing market. The platform’s testing phase, which began in collaboration with CME Group, is expected to continue into 2026.
