Recep Gülcemal 
Google Cloud has unveiled a new generation payment plan project to the public with GCUL. This payment system aims to make global money transfers more efficient thanks to its programmable and permissioned structure. In addition to being efficient, it stands out with faster capital market transactions. This move particularly emphasises that digital finance and stablecoin-based payment systems will reach a more institutional level. On 27 August 2025, Google published a project on its website that concerns the entire crypto world. The name of the project is Google Cloud Universal Ledger (GCUL).
What is Google Cloud Universal Ledger (GCUL)?
GCUL, which is still in the test network phase, is a Layer-1 Blockchain-based system. This system has been developed specifically to facilitate cross-border payments globally. It also aims to simplify asset settlements. CME has signed a trial partnership in the field of tokenised assets in the first quarter of the year.
Considering all these developments, many cryptocurrency communities are debating GCUL’s permissioned and centralised structure. However, Google aims to position the project not as decentralised but based on a more institutional framework. It is working towards creating a more efficient infrastructure for this purpose.
New Developments in International Payment Systems
Until now, cross-border payments in the international arena have been carried out through banks and remittance networks. However, thanks to new generation systems developed in recent years, it is now possible to make higher-value payments from wallet to wallet within seconds. In fact, stablecoin transactions are projected to exceed $5 trillion by 2024. The fact that traditional payment systems are much slower and more costly than new generation methods makes these innovations even more prominent. In this regard, Google’s GCUL project aims to take developments in this area to a more corporate level.
Google Cloud aims to run payment and asset systems through a single system or even a ledger. Accordingly, it can be emphasised that the operational load will be significantly reduced. Both the reduction in risk and the simplification of regulatory processes can be considered significant advantages. At the same time, organisations can continue to operate using their own brands. In addition, the fact that the system running in the background is programmable can be considered a major advantage. With this step, Google has filled a very important gap.
Features that Distinguish GCUL from Traditional Open Blockchains
GCUL has a different structure from today’s traditional blockchains. Most importantly, it should be noted that it has a permissioned structure. KYC, compliance, and account opening have been synchronised with the centre of this design. In addition, corporate users are supported by Google in terms of both data privacy and business security.
When considering the advantages of GCUL, multi-currency and asset support stand out. In addition, it offers the advantage of being able to trade different currencies as well as tokenised assets via API. Payment and asset delivery also occur simultaneously during this process. This minimises the risks for all parties. Programmable flows can also be considered one of the system’s most significant advantages. This is because it makes the use of machines in capital markets even more feasible.
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