Jack Henry to integrate Google Cloud Universal Ledger for tokenised deposit support

Jack Henry, a core banking technology provider serving more than 7,200 community banks and credit unions, has announced plans to integrate Google Cloud Universal Ledger (GCUL) into its platform. The move would make Jack Henry the first core banking vendor to connect with GCUL, enabling its client institutions to offer tokenised deposits. No client bank was named in the announcement, and no launch date was provided. The deal extends an existing relationship between Jack Henry and Google Cloud.

GCUL has so far attracted only a small number of publicly known collaborations. Its earliest initiative involved a joint project with CME Group focused on wholesale payments and asset tokenisation, with Canada’s BMO later announced as the first bank on CME’s tokenised cash solution, though that remains subject to regulatory approval targeted for the second half of 2026. In Switzerland, AMINA Bank, Incore Bank, and Deutsche Börse’s Crypto Finance have conducted trials, with a second round in April settling live client transactions in a production environment.

For Jack Henry, the timing reflects mounting pressure in the community banking sector. Industry body ICBA has characterised stablecoin yield provisions in the CLARITY Act as a potential $1.3 trillion deposit flight risk for community banks, sharpening interest in tokenised deposit alternatives. Multiple competing networks, including Hazel Network and Cari Network, are already active in this space, and Jack Henry’s core banking rivals FIS and Fiserv have their own offerings. A Jack Henry survey conducted earlier this year found 11% of its clients exploring tokenised deposits, a figure the company suggests has since grown. A separate Conference of State Bank Supervisors (CSBS) survey found nearly 4% of respondents already had a solution in place, with around 17.5% planning one within 12 months.