Tokenization News: CME Group and Google Cloud Explore Tokenization Services

Derivatives giant CME Group tests tokenization with Google Cloud support

The company aims to modernize financial markets through asset tokenization using Google Cloud's Universal Ledger.

Christian Sandor | Edited by Steven Alpher Updated 25 Mar 2025 14:05 UTC Published 25 Mar 2025 13:42 UTC

Key facts:

• CME Group joins forces with Google Cloud to conduct research on tokenization using Google Cloud's Universal Ledger to improve capital market efficiency.
• The goal of their collaboration is to test digital asset infrastructure to improve settlements and clearing, with new services planned to launch in 2026.
• The move reflects a growing trend among traditional financial companies to adopt blockchain technology for more efficient payments around the clock.

CME Group, the largest derivatives trading platform for institutional clients, has announced its intention to explore tokenization as a way to improve capital market efficiency using Google Cloud's distributed ledger technology.

Both companies plan to begin live testing with market participants later this year and aim to launch the new services in 2026, according to a press release published Tuesday. CME will use Google Cloud’s recently unveiled Universal Ledger, a programmable private network, to test how digital asset infrastructure can improve settlement and clearing processes.

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The moves by the two corporations highlight a growing trend of tokenization that is sweeping across crypto firms and traditional financial institutions. Global asset managers and banks are increasingly exploring the use of blockchain structures to move traditional financial instruments like funds, bonds, and other securities. This is done to improve efficiency and enable faster, cheaper, and round-the-clock settlement. According to a series of industry reports from BCG, McKinsey, and Bernstein, the volume of tokenized assets could grow to a multi-trillion dollar market by the end of the decade.

“With the President and the new administration calling on Congress to create landmark legislation for a smart market structure, we are excited to work with Google Cloud to deliver innovative solutions for low-cost digital value transfer,” said Terry Duffy, chairman and CEO of CME Group. “Google Cloud’s Universal Ledger has the potential to deliver significant efficiencies for collateral, margin, settlement, and commissions as the world moves toward 24/7 trading.”

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