There is no publicly detailed specific information about GCUL fintech startup registration steps versus those of banks available at this time. However, based on the general understanding of permissioned blockchain platforms in regulated financial sectors, the likely differences include:
- Banks usually undergo a more rigorous and comprehensive regulatory onboarding process due to existing banking licenses, compliance history, and higher supervisory scrutiny.
- Fintech startups may have streamlined registration steps focused on meeting essential KYC/AML and cyber security requirements but without the full banking regulatory burden.
- Banks are often required to demonstrate extensive capital adequacy, operational risk controls, and compliance programs, whereas fintechs might need to meet lighter but still robust corporate governance and technical standards.
- Fintech startups may benefit from dedicated onboarding programs and APIs that facilitate faster integration with GCUL while banks might require more customized and regulated setups.
Overall, fintechs might experience a more agile and technology-focused registration process while banks go through a more formal regulatory vetting due to the nature of their activities and licenses. Specific GCUL onboarding processes for different organization types will likely be detailed by Google Cloud as the platform matures.