CME Group to Introduce Tokenisation Tech with Google

CME Group and Google Cloud have unveiled an extension to their existing partnership with the announcement that they are piloting solutions for seamless and secure wholesale payments and tokenisation of assets.

CME says it has successfully completed the first phase of integration and testing of Google Cloud Universal Ledger (GCUL), a novel distributed ledger from Google Cloud.

GCUL is a programmable, distributed ledger designed for financial institutions in traditional finance to integrate and use. The firms say it simplifies the management of accounts and assets, and facilitates transfers on a private and permissioned network. This, they add, empowers participants to leverage their core capabilities and launch services for their clients that meet evolving demands and enhance their overall experiences.

The firms say they will initiate direct testing with market participants with the intent to launch new services in 2026.

“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,” says Terry Duffy, chairman and CEO of CME Group

“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,” says 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.”