US CME Group Announces Partnership with Google Cloud for Asset Tokenization Pilot Program
The CME Group in Chicago, USA, announced on March 25th that it is partnering with Google Cloud to jointly promote an asset tokenization pilot program. This collaboration focuses on using the Universal Ledger (GCUL), a distributed ledger launched by Google Cloud. The pilot is scheduled to begin in 2026, aiming to enable round-the-clock trading in traditional financial markets.
2026 Pilot Launch, Aiming for 24/7 Financial Markets
CME stated that this partnership would significantly improve margin management, settlement, and payment efficiency, bringing capital markets closer to the reality of 24-hour trading. The two parties have already planned to begin the pilot test in 2026, though details regarding which assets will be tokenized are not yet disclosed.
What is GCUL? Google’s Blockchain Strategy
Although Google Cloud initially focused on cloud services, it has also made moves in the blockchain space:
- 2018: Google started focusing on blockchain data processing and incorporated Bitcoin blockchain data into its data storage tools.
- 2023: Google Cloud began supporting 11 mainstream blockchains, including Ethereum, Arbitrum, Avalanche, Optimism, and more.
Asset Tokenization is Becoming a Mainstream Trend
According to a March 24th report by the World Economic Forum (WEF), this trend is heading towards real-world applications:
- Globally, there are approximately $230 trillion in financial assets, but only $25 trillion can be used as collateral.
- Tokenization will dramatically increase the available assets, enhancing the liquidity and efficiency of global capital markets.
Support from Trump Administration, Tokenization Expected to Take Off Quickly
After President Donald Trump returned to the White House, he promised to make the United States the “capital of blockchain and crypto assets,” and the overall regulatory atmosphere has shifted significantly:
- The U.S. Securities and Exchange Commission (SEC) is planning to eliminate SAB 121, making it easier for financial institutions to offer tokenized asset custodial services.
- Larry Fink, CEO of BlackRock, has voiced strong support, urging the SEC to quickly approve the tokenization of “stocks and bonds.”
From BUIDL to GCUL, Traditional Finance Fully Embraces Blockchain
From BlackRock’s BUIDL fund, which saw its market value surge to $1.7 billion, to the joint efforts of Google Cloud and CME to launch the GCUL 24/7 trading pilot, it is clear that tokenization is gradually becoming a fundamental part of traditional financial infrastructure.
(BlackRock CEO: SEC, please move quickly on stock and bond tokenization; don’t let the left and right interfere with business operations.)
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