Jack Henry Expands Google Cloud Partnership to Offer Tokenized Deposits for Banks and Credit Unions

On October 16, fintech company Jack Henry (Nasdaq: JKHY) announced an expanded partnership with Google Cloud, planning to offer tokenized deposit services for banks and credit unions through Google Cloud Universal Ledger (GCUL). Jack Henry will become the first core banking technology provider to integrate with GCUL.

GCUL is a fully managed distributed ledger service that allows financial institutions to tokenize and transfer funds and assets on the same real-time ledger, while also supporting programmable 24/7 settlement. According to the announcement, this integration primarily targets community and regional financial institutions, with use cases including retaining deposits, providing 24/7/365 instant payments and automated programmable processes, as well as improving capital efficiency through automated clearing and multilateral netting—without requiring liquidity lock-up or pre-funding.

[TechFlow]