CME Group taps Google Cloud for pilot asset tokenization program

US derivatives exchange operator CME Group is piloting solutions for tokenized assets using Google Cloud Universal Ledger (GCUL), a new distributed ledger that was designed for traditional financial institutions.

CME has begun integrating GCUL to improve capital market efficiency and wholesale payments, the company announced on March 25.

CME Group Chairman and CEO Terry Duffy said GCUL could “deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading.”

The announcement did not provide…