Jack Henry, a financial technology provider for banks and credit unions, is expanding its partnership with Google Cloud to help financial institutions offer tokenized deposits through Google Cloud Universal Ledger (GCUL). Jack Henry will become the first core banking technology provider to integrate with the platform, which allows money and assets to be transferred on a shared digital ledger with programmable, round-the-clock settlement.
GCUL is a fully managed distributed ledger service developed by Google Cloud. It supports near-instant settlement and programmable transactions that can run 24 hours a day, seven days a week. Jack Henry said the integration could help financial institutions improve payment efficiency, reduce operational complexity, and explore new digital asset services while maintaining existing deposit relationships.
cryptonews.net