Further expanding their transformational partnership, CME Group and Google Cloud announced that they are piloting solutions for seamless and secure wholesale payments and tokenization of assets. CME Group has successfully completed the first phase of integration and testing of Google Cloud Universal Ledger (GCUL), a novel distributed ledger from Google Cloud.

“As the President and new Administration have encouraged Congress to create landmark legislation for common-sense market structure, we are pleased to partner with Google Cloud to enable innovative solutions for low-cost, digital transfer of value,” said Terry Duffy, CME Group Chairman and Chief Executive Officer. “Google Cloud Universal Ledger has the potential to deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading.”

“Our core mission is to provide our partners with the most advanced infrastructure, empowering them to accelerate innovation, drive efficiencies, and overcome the complexities inherent in today’s financial systems,” said Rohit Bhat, General Manager, Financial Services, Google Cloud. “Partnering with CME Group to innovate with GCUL exemplifies this commitment, demonstrating how Google Cloud helps partners transform their businesses through strategic collaborations and modern infrastructure, unlocking significant opportunities for the global financial market.”

GCUL is an innovative, programmable, distributed ledger designed to be easy for financial institutions in traditional finance to integrate and use. It simplifies the management of accounts and assets, and facilitates transfers on a private and permissioned network. This collaborative platform empowers participants to leverage their core capabilities and launch services for their clients that meet evolving demands and enhance their overall experiences.

Later this year, CME Group and Google Cloud will initiate direct testing with market participants with the intent to launch new services in 2026.

Source: CME