CME Group Tests Asset Tokenization via Google Cloud Universal Ledger
CME Group announced plans to implement real-world asset (RWA) tokenization to enhance capital market efficiency, leveraging Google Cloud’s new universal DLT network.
As North America’s largest financial derivatives marketplace, CME Group partnered with Google Cloud to test a range of solutions for seamless and secure wholesale payments using asset tokenization technology.
During the initial testing phase, CME Group successfully integrated and tested Google Cloud Universal Ledger (GCUL), a new distributed ledger from Google Cloud designed for secure and scalable management of tokenized assets.
GCUL is a programmable DLT network built for seamless integration with financial institutions within the traditional financial system. The solution optimizes account and asset management while enabling private, permissioned blockchain-based transfers.
According to Terry Duffy, CEO of CME Group, tokenization technology will help improve liquidity, transparency, and cost efficiency in capital markets. Rohit Bhat, General Manager for Financial Services at Google Cloud, emphasized that integrating GCUL will enable CME Group to effectively manage tokenized assets while ensuring regulatory compliance.
The joint testing initiative will continue throughout 2025, with CME Group planning to begin direct market participant trials based on GCUL. The company aims to launch its new tokenization services by 2026.
Google previously partnered with the Tezos Foundation in 2023 to integrate Web3 innovations into Google Cloud.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Treasury Targets Houthi Crypto Wallets, Financial Network
Securitize Reports Highest-Ever Dividend of $4.17 Million for Tokenized Treasury Product
Market Turmoil Hits Pi Network: Investors Face Uncertain Future
In Brief Pi Network's value has sharply declined, alarming many within the community. Experts predict a potential price drop of Pi Coin to $0.1 if trends continue. Investor confidence remains shaky due to regulatory and technical uncertainties.
1 in every 5 Americans hold Crypto: Ripple CLO
Trending news
MoreCrypto prices
More
