09:42 AM EDT, 03/25/2025 (MT Newswires) -- CME Group ( CME ) and Alphabet's (GOOGL, GOOG) Google Cloud unit said Tuesday that they will launch services related to wholesale payments and tokenization of assets using the Google Cloud Universal Ledger.

The Google Cloud Universal Ledger is intended to be used by financial institutions to simplify managing accounts and assets, as well as for transfers on a private and permissioned network, the companies said.

CME Group ( CME ) said it has completed the first phase of integrating and testing the Google Cloud Universal Ledger. The companies also said they will begin direct testing with market participants in 2025 and aim to launch the new services in 2026.

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