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Google Cloud is launching its personal layer-1 blockchain for monetary establishments, taking over Ripple, Circle, and Stripe in funds.
Google Cloud’s Web3 Head of Technique, Wealthy Widmann, shared new particulars in regards to the blockchain, referred to as the Google Cloud Common Ledger (GCUL), in an Aug. 26 publish on Linkedin.
“GCUL brings collectively years of R&D at Google to offer monetary establishments with a novel Layer 1 that’s performant, credibly impartial and allows Python-based sensible contracts,” Widmann wrote.
“In addition to bringing to bear Google’s distribution, GCUL is a impartial infrastructure layer,” Widmann added. “Tether gained’t use Circle’s blockchain – and Adyen in all probability gained’t use Stripe’s blockchain. However any monetary establishment can construct with GCUL.”
By transferring into blockchain funds infrastructure, Google Cloud is positioning itself to compete over the monetary rails that might form the way forward for funds. At stake could also be who finally controls the spine of digital finance: established tech giants or crypto pioneers.
Google Cloud additionally wrote in an official weblog publish that GCUL “simplifies the administration of economic financial institution cash accounts and facilitates transfers through a distributed ledger, empowering monetary establishments and intermediaries to fulfill the calls for of their most discerning purchasers and compete successfully.”
Growing Quantity Of Firms Launching Their Personal Blockchains Amid The Rising Regulatory Readability
Google Cloud is the newest firm to announce that it’s working by itself layer-1 blockchain community. USD Coin (USDC) issuer Circle, and funds large Stripe, are amongst others which have introduced related developments in latest months.
That’s because the Web3 business beneficial properties extra regulatory readability within the US below the Trump Administration.
Widmann additionally shared a desk evaluating Google Cloud’s GCUL with Circle’s Arc and Stripe’s Tempo blockchains.
Desk evaluating GCUL with Arc and Tempo (Supply: Linkedin)
In accordance with the desk, Google Cloud’s blockchain community will faucet into the tech large’s present person base of “billions of customers” and “100s of institutional companions.”
Its principal aggressive goal is to turn into a 24/7 infrastructure supplier for the worldwide capital markets. The staff may also look to develop funds and allow agentic capabilities with its chain.
Google Cloud described its blockchain as a personal and “permissioned system” in its weblog publish. It did, nevertheless, say that it’d make the community “extra open as rules evolve.”
That closed-off nature has drawn criticism from crypto and Web3 purists who argue that the community’s ideas go towards the decentralized and permissionless values the group is constructed on.
“It’s a permissioned chain, ran by an American company with shut ties to the federal government,” one X person stated. ”I don’t assume these folks perceive what ‘credibly impartial’ means within the context of blockchains, as a result of that is actually the precise reverse of ‘credibly impartial’.”
Starknet CEO Eli Ben-Sasson additionally commented on the challenge. Responding to an X publish in regards to the blockchain, he stated he thinks that companies creating their very own layer-1 chains usually are not going to make it.
I feel companies doing L1s is ngmi. Together with base. I do know this can be a contentious opinion. However reminding you I stated the identical about Diem (for individuals who bear in mind it).
— Eli Ben-Sasson | Starknet.io (@EliBenSasson) August 27, 2025
Google Cloud Will Allow Python-Primarily based Good Contracts
Ethereum has loved a first-mover benefit available in the market since its inception again in July 2015, being the primary distributed ledger to make it attainable for programmers to create decentralized functions (dApps) on a blockchain community.
A number of monetary establishments have utilized that functionality to discover how it may be used to create new monetary merchandise.
In accordance with DeFillama, Ethereum nonetheless accounts for almost all of the worth that’s locked up within the blockchain house. With round $94.261 billion in whole worth locked (TVL), Ethereum at the moment has a 60.41% share of the market.
TVL breakdown by blockchain (Supply: DeFiLlama)
The subsequent largest market share goes to Solana, with its $11.231 billion TVL accounting for 7.2% of the worth at the moment locked up on blockchains.
Nonetheless, Ethereum’s sensible contracts function on a brand new programming language referred to as Solidity. Many software program builders have discovered methods to write sensible contracts utilizing Solidity, however the necessity to be taught a brand new software program does current an impediment for adoption.
Google Cloud will handle that concern by making it attainable for builders to put in writing sensible contracts utilizing Python, which is likely one of the hottest and extensively used programming languages globally.
In accordance with a Statista survey, Python was the third hottest programming language as of July 2024, with 51% of the survey’s 60,171 respondents displaying a choice for Python, whereas just one.1% most popular Solidity.
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