News emerged today that Google is developing its own blockchain, which will be used for payment systems. The project is currently in a closed testing phase.

According to Rich Widmann, Head of Web3 Strategy at Google Cloud, the company is building a proprietary blockchain network called Google Cloud Universal Ledger (GCUL) for the financial sector. Widmann stated that the goal of GCUL is to provide financial institutions with a high-performance, verifiably neutral blockchain platform that supports smart contracts written in Python.

This move highlights the growing interest and involvement of major tech companies in the blockchain and Web3 space. While many crypto projects are struggling with volatility and regulatory hurdles, Google — with its vast resources and engineering expertise — is aiming to create a stable and reliable infrastructure for financial applications. The Python-based platform opens the door to a wide range of developers, as Python remains one of the most popular programming languages. This could greatly simplify the development and deployment of smart contracts and attract more talent to drive financial innovation on Google Cloud.

The declared neutrality of the platform is also a key element. In an environment where many blockchain networks are controlled by small groups or private companies, Google's commitment to a verifiably neutral platform may appeal to financial institutions wary of centralization and seeking fair competition.

"Beyond leveraging Google's distributions, GCUL is designed to be a neutral infrastructure layer," Widmann said. "Tether won't want to use Circle's blockchain, and Adyen likely won't want to use Stripe's. But any financial institution can use GCUL."

According to Widmann, GCUL is currently operating in a closed testnet, with more details to be shared later. This phase is critical for identifying and fixing potential issues before the platform becomes publicly available. Closed testing allows Google to fine-tune GCUL, optimize its performance, and ensure security. Early integration with financial institutions will help tailor the platform to their specific needs and regulatory requirements.

However, GCUL's success will depend not only on its technological foundation, but also on regulatory compliance and the willingness of financial institutions to adopt the new technology. Google is clearly aware of these challenges and is working to build a transparent and secure platform that meets the highest industry standards. In the long run, GCUL could become a key infrastructure element for the next generation of financial services, supporting a more efficient, transparent, and inclusive financial world.

Trading recommendations

Technical outlook for Bitcoin

Buyers are currently targeting a return to the $112,100 level, which would open a clear path to $113,700, and from there it's a short move to $116,000. The most distant target is the $117,500 area — a breakout above this level would signal a strengthening bull market. In case of a decline, buyers are expected around $110,500. A drop below this zone could quickly send BTC down to the $108,800 region, with the $106,100 area being the ultimate downside target.

Technical outlook for Ethereum

A firm close above $4,641 opens the door to $4,807. The ultimate target is the $5,055 zone — a breakout above this level would confirm bullish market momentum and renewed buyer interest. If ETH declines, buyers are expected around $4,477. A drop below that level could trigger a fast move down to $4,347, with the $4,215 area acting as the final support target.

What's on the chart

• The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.