Google Cloud Corporation has announced the launch of Universal Ledger (GCUL), a blockchain platform created specifically for financial institutions and capital market participants. This platform works as a distributed registry-based service and provides a unified API for managing bank accounts and making money transfers.

The main advantage of this solution is the possibility of almost instant international transfers with clear and low fees 24/7. It is important that, unlike other blockchains, this system was created from the very beginning taking into account all legislative norms, including KYC and AML, which guarantees full compliance with regulatory requirements.

Google does not seek to compete with the banking sector. Rather, the company sees itself as a technology partner providing a reliable and "completely neutral" platform. At the same time, customers have full control over their own products and information. In addition to payment services, GCUL focuses on capital markets, offering solutions for creating digital assets and implementing complex transactions, such as atomic swaps.

It is known that CME Group, one of the world's leading commodity exchanges, uses GCUL to explore the possibilities of asset tokenization. According to information from sources, the platform is currently undergoing closed testing, and its official launch may be an important step forward in the digital transformation of the financial industry.