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
