--- title: Creating Swiss Franc stablecoins with Google Cloud... description: Crypto Finance Group ran a pilot enabling instant account-to-account transfers between two Swiss banks on Google Cloud Universal Ledger (GCUL). Crypto Finance... canonical: https://daily.dev/posts/creating-swiss-franc-stablecoins-with-google-cloud-universal-ledger-xufq9yoaw twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Creating Swiss Franc stablecoins with Google Cloud Universal Ledger | daily.dev og:description: Crypto Finance Group ran a pilot enabling instant account-to-account transfers between two Swiss banks on Google Cloud Universal Ledger (GCUL). Crypto Finance... og:url: https://daily.dev/posts/creating-swiss-franc-stablecoins-with-google-cloud-universal-ledger-xufq9yoaw og:image: https://api.daily.dev/og/posts/XUFq9yoAW.png og:image:alt: Creating Swiss Franc stablecoins with Google Cloud Universal Ledger og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Creating Swiss Franc stablecoins with Google Cloud Universal Ledger **[Google Cloud](https://daily.dev/sources/gcp)** · 9 min read · 0 upvotes · 0 comments ## Summary Crypto Finance Group ran a pilot enabling instant account-to-account transfers between two Swiss banks on Google Cloud Universal Ledger (GCUL). Crypto Finance acted as the 'currency operator', setting issuance limits and choosing deferred settlement, which nets transactions periodically instead of settling each one instantly. The pilot involved two digital token issuers, a Swiss digital asset bank, and a Swiss B2B transaction bank, with systems integration completed in under three months. GCUL uses a smart contract language called GCULpy. The piece argues GCUL avoids risks of public stablecoins, like gas fees, anonymity, and reduced bank reserves. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### What is Google Cloud Universal Ledger (GCUL) and how does it differ from public stablecoins like USDC? Google Cloud Universal Ledger (GCUL) is a blockchain infrastructure built for financial institutions to issue and settle tokenized bank deposits rather than reserve-backed public stablecoins. Unlike public stablecoins, which reduce bank reserves and lending capacity and carry gas fees and anonymity risks, GCUL lets a 'currency operator' bank enforce issuance limits, rulebooks, and settlement terms while keeping funds in commercial bank money. _Banks weighing stablecoin alternatives can track infrastructure moves like GCUL as they evaluate payment rail options on daily.dev._ ### How did Crypto Finance Group's Swiss Franc pilot on GCUL handle settlement between banks? Crypto Finance Group acted as the 'currency operator' and chose deferred settlement, where transactions accumulate and offset, with only the net difference settled periodically, similar to netting in traditional banking. This let clients get instant transfers while participating banks conserved liquidity instead of needing high reserves for real-time gross settlement. The pilot connected two digital token issuers, a Swiss digital asset bank, and a Swiss B2B transaction bank. _Engineers designing settlement logic for payment systems can follow real deferred-settlement implementations like this on daily.dev._ ### How long did it take to integrate core banking systems with Google Cloud Universal Ledger in the Crypto Finance pilot? Systems integration for the pilot was completed in under three months. Each participant worked within dedicated Google Cloud projects, with Crypto Finance connecting a role admin service, a settlement registry, and a cloud key management service to a dedicated GCUL API, while participant banks connected their core banking systems via Remote Procedure Call without needing a large Google Cloud footprint. _Teams scoping blockchain integration timelines for core banking can compare real pilot benchmarks like this on daily.dev._ ## Similar posts on daily.dev - [Trends from Money20/20 2026: The rise of “hidden” financial services](https://daily.dev/posts/trends-from-money20-20-2026-the-rise-of-hidden-financial-services-okqvenjha) · Stripe · 1 upvotes · 0 comments - [Thirstday \#1 — Crypto Built the Rails. Where Is the Consumer Layer?](https://daily.dev/posts/thirstday-1-crypto-built-the-rails-where-is-the-consumer-layer--h2uodjz5n) · Coins Bench · 0 upvotes · 0 comments - [Visa moves to plug stablecoins into the global payments system](https://daily.dev/posts/visa-moves-to-plug-stablecoins-into-the-global-payments-system-foos2zxfl) · TechCentral · 0 upvotes · 0 comments - [Japan wants stock and bond settlement to happen instantly, on a blockchain](https://daily.dev/posts/japan-wants-stock-and-bond-settlement-to-happen-instantly-on-a-blockchain-xmantrxdh) · The Next Web · 0 upvotes · 0 comments - [Stablecoins for Skeptics](https://daily.dev/posts/stablecoins-for-skeptics-qe3k7prxy) · The PayEng Playbook · 9 upvotes · 1 comments --- Tags: [#blockchain](https://daily.dev/tags/blockchain), [#gcp](https://daily.dev/tags/gcp), [#fintech](https://daily.dev/tags/fintech), [#stablecoin](https://daily.dev/tags/stablecoin) [View this post on daily.dev](https://daily.dev/posts/creating-swiss-franc-stablecoins-with-google-cloud-universal-ledger-xufq9yoaw) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Creating Swiss Franc stablecoins with Google Cloud Universal Ledger","url":"https://daily.dev/posts/creating-swiss-franc-stablecoins-with-google-cloud-universal-ledger-xufq9yoaw","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/creating-swiss-franc-stablecoins-with-google-cloud-universal-ledger-xufq9yoaw"},"datePublished":"2026-10-26T21:05:18.208Z","dateModified":"2026-10-26T21:33:42.037Z","description":"Crypto Finance Group ran a pilot enabling instant account-to-account transfers between two Swiss banks on Google Cloud Universal Ledger (GCUL). Crypto Finance...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/a64d007bead3d21fa4fbac21d5ef2777?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/a64d007bead3d21fa4fbac21d5ef2777?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"Google Cloud","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"Google Cloud","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/gcp","url":"https://daily.dev/sources/gcp"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/creating-swiss-franc-stablecoins-with-google-cloud-universal-ledger-xufq9yoaw","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"blockchain,gcp,fintech,stablecoin","timeRequired":"PT9M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"Google Cloud","item":"https://daily.dev/sources/gcp"},{"@type":"ListItem","position":3,"name":"Creating Swiss Franc stablecoins with Google Cloud Universal Ledger"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/creating-swiss-franc-stablecoins-with-google-cloud-universal-ledger-xufq9yoaw#faq","mainEntity":[{"@type":"Question","name":"What is Google Cloud Universal Ledger (GCUL) and how does it differ from public stablecoins like USDC?","acceptedAnswer":{"@type":"Answer","text":"Google Cloud Universal Ledger (GCUL) is a blockchain infrastructure built for financial institutions to issue and settle tokenized bank deposits rather than reserve-backed public stablecoins. Unlike public stablecoins, which reduce bank reserves and lending capacity and carry gas fees and anonymity risks, GCUL lets a 'currency operator' bank enforce issuance limits, rulebooks, and settlement terms while keeping funds in commercial bank money. Banks weighing stablecoin alternatives can track infrastructure moves like GCUL as they evaluate payment rail options on daily.dev."}},{"@type":"Question","name":"How did Crypto Finance Group's Swiss Franc pilot on GCUL handle settlement between banks?","acceptedAnswer":{"@type":"Answer","text":"Crypto Finance Group acted as the 'currency operator' and chose deferred settlement, where transactions accumulate and offset, with only the net difference settled periodically, similar to netting in traditional banking. This let clients get instant transfers while participating banks conserved liquidity instead of needing high reserves for real-time gross settlement. The pilot connected two digital token issuers, a Swiss digital asset bank, and a Swiss B2B transaction bank. Engineers designing settlement logic for payment systems can follow real deferred-settlement implementations like this on daily.dev."}},{"@type":"Question","name":"How long did it take to integrate core banking systems with Google Cloud Universal Ledger in the Crypto Finance pilot?","acceptedAnswer":{"@type":"Answer","text":"Systems integration for the pilot was completed in under three months. Each participant worked within dedicated Google Cloud projects, with Crypto Finance connecting a role admin service, a settlement registry, and a cloud key management service to a dedicated GCUL API, while participant banks connected their core banking systems via Remote Procedure Call without needing a large Google Cloud footprint. Teams scoping blockchain integration timelines for core banking can compare real pilot benchmarks like this on daily.dev."}}]} ```