CME Group and Google Cloud test tokenized payments via new distributed ledger
The service will be launched in 2026
Global financial derivatives exchange CME Group and Google Cloud are testing a solution for seamless and secure wholesale payments and asset tokenization using Google Cloud’s new distributed ledger platform, the Google Cloud Universal Ledger (GCUL).
According to a press release issued by CME Group on March 25, the company successfully completed the first phase of integration and testing of the GCUL. The GCUL is a programmable distributed ledger designed specifically for financial institutions, enabling simplified account and asset management as well as secure transfers on a private, permissioned network.
Terry Duffy, Chairman and CEO of CME Group, stated that GCUL has the potential to significantly improve collateral management, margin requirements, settlements, and payments as global markets move toward 24/7 trading.
“As the President and new administration call on Congress to pass landmark legislation for a rational market structure, we’re excited to work with Google Cloud to develop innovative solutions for low-cost digital value transfers,” said Duffy.
Business transformation and market opportunities
Rohit Bhat, General Manager of Financial Services at Google Cloud, emphasized that the collaboration with CME Group demonstrates how Google Cloud enables partners to transform their businesses through strategic partnerships and advanced infrastructure, unlocking new opportunities in the global financial market.
“Our core mission is to provide partners with the most advanced infrastructure so they can accelerate innovation, improve efficiency, and overcome the challenges inherent in modern financial systems,” said Bhat.
The initiative reflects a broader trend among traditional financial institutions exploring blockchain technology to enhance operational efficiency and reduce costs.
CME Group and Google Cloud plan to begin direct testing with market participants later this year, with the goal of launching new services in 2026.
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