In a move that would make even the most stoic of Russian novelists chuckle, the CME Group has decided to tango with Google Cloud Universal Ledger (GCUL) in a pilot that promises to tokenize assets with the efficiency of a well-oiled Kalashnikov.
On a day as uneventful as March 25, CME dropped this bombshell, announcing their integration with GCUL to improve capital market efficiency and wholesale payments, as if one could improve upon the grand farce that is our financial system.
Terry Duffy, the maestro of this financial opera, opined that GCUL could revolutionize collateral, margin, settlement, and fee payments, presumably in the same way a cat learns to play the piano. 🐱🎹
Details of the assets to be tokenized were as elusive as a Yeti in a snowstorm, but CME and Google Cloud plan to test this technological curiosity with the market’s willing participants in 2026. Stay tuned for the next act!
Before the March 25 revelation, GCUL was as mysterious as the contents of a matryoshka doll. Meanwhile, Google Cloud has been tiptoeing into blockchain technology since 2018, perhaps hoping to add a little digital sparkle to its data warehouse.
In 2023, they added 11 more blockchains, presumably to keep up with the blockchain Joneses. Ethereum, Arbitrum, Avalanche, and Optimism all got a seat at the table, as if they were characters in a Chekhovian drama.
Tokenization, the process of turning assets into digital tokens, has caught the eye of major institutions like a shiny object to a magpie. The World Economic Forum published an article on March 24 that made it sound as if tokenization was the second coming of the steam engine.
Yuval Rooz, a co-founder with a penchant for the dramatic, wrote that tokenization could expand liquidity and capital efficiency. One can almost hear the cash registers cha-chinging in the background.
President Donald Trump, in his quest to make America great again, has promised to make it the blockchain and crypto capital of the world. One wonders if he’ll rename the White House the Blockchain House. 🏰
Tokeny, a platform that probably has more tokens than a subway turnstile, claimed that the SEC’s repeal of SAB 121 would be a shot in the arm for the industry. Custody solutions for tokenized securities without the risk? What a novel idea!
BlackRock’s CEO, Larry Fink, has become the tokenization market’s unlikely cheerleader. In a January interview, he urged the SEC to approve the tokenization of stocks and bonds with the enthusiasm of a man selling hot air balloons at a county fair.
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2025-03-25 17:45