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- Google Cloud and CME team up to explore tokenization with Universal Ledger.
- The partnership aims to streamline digital asset settlements across financial systems.
CME Group has partnered with Google Cloud in their latest step to test Universal Ledger-based tokenization technology. Through this collaboration, both parties want to test how digital asset infrastructure can be used to simplify the clearing and settlement process that has been quite complex in the financial world.
CME Group Eyes 24/7 Trading With Google Cloud’s Ledger Tech
Terry Duffy, Chairman and CEO of CME Group, said the collaboration is in line with the new US administration’s push for Congress to create more reasonable market regulation. “We are pleased to partner with Google Cloud to enable innovative solutions for low-cost, digital transfer of value,” he said.
He also added that Google Cloud’s Universal Ledger has the potential to provide significant efficiencies in collateral, margin, settlement, and fee payments—especially amid the shift to 24/7 trading that is increasingly real.
For those who are not familiar, Universal Ledger is Google Cloud’s distributed ledger technology that enables the transfer of digital value across entities and systems.
While the term sounds technical, just imagine an online financial record system that is always in sync, can be accessed by anyone with authority, and works without any time lag. In practice, this can reduce the friction that often occurs in transaction settlements.
On the other hand, Rohit Bhat from Google Cloud explained that their main mission is to provide the most advanced infrastructure to help partners overcome the complexities in today’s financial system. He called this collaboration a real example of how Google Cloud is driving transformation through strategic collaboration. He stated:
“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.”
The project itself is in the early stages of testing, and is targeted to be tested more widely with market participants later this year. If all goes according to plan, this tokenization-based service will be launched in 2026.
Solana Futures and Treasury CLOB Set to Reshape Trading
But the CME Group story doesn’t stop there. A few days before the announcement of the collaboration with Google Cloud, precisely on March 18, 2025, they had already launched a Solana (SOL) futures contract.
This is part of the expansion of crypto products offered by CME to investors. This additional product provides more flexibility for market players in managing their exposure to volatile digital assets.
It didn’t take long, two days later, on March 20, 2025, CME also announced plans to launch a Central Limit Order Book (CLOB) for US Treasury securities under the BrokerTec platform in Chicago. The goal is quite clear: to simplify the connection between the cash and futures markets so that market players can be more efficient in managing their risk and liquidity.
Bitcoin Faces Potential Supply Shock
Meanwhile, as previously mentioned in our report, CME data actually gives an interesting signal about Bitcoin. It is suggested that the likelihood of a supply shock might cause the price of Bitcoin to rise, particularly when institutional investors begin to liquidate their short positions.
Analysts have set a long-term target range of $225,000 to $444,000. Although projections always require a disclaimer, this demonstrates a quite strong market sentiment.
