Google Cloud Universal Ledger (GCUL), the company’s permissioned blockchain for financial services, was first unveiled as part of a CME deal to use tokenized deposits for derivative margin payments. Now Google is running job ads for senior GCUL business development leads, a sign it is gearing up its tokenized deposit activities. A key part of the pitch is that tokenized deposits give banks “the same transactional advantages as stablecoins”. More on that later.
The ads reveal more than the hiring itself. The new hires are tasked with landing “initial transacting parties using three currencies to generate network density”, leveraging “market makers” to pull financial ecosystems onto the platform. GCUL is positioned as “credibly neutral” infrastructure enabling multi-currency transfers “without the compliance issues of public chains”. There’s even a nod to powering “agentic finance workflows”.
The jurisdictions are also notable. One role is based in the US. A second can be based in either London or Zurich, which may hint that the three currencies are the dollar, sterling and the Swiss franc.
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