The design of GCUL and its API have significant implications for regulatory compliance and KYC:
- Permissioned Network: GCUL is a private, permissioned blockchain where only verified participants can operate. This controlled access enforces compliance by ensuring all users undergo mandatory KYC verification before gaining network access.
- Compliance-First Architecture: GCUL is built with a “compliance-first” approach, integrating KYC-verified accounts and adhering to regulatory standards required for financial institutions, which helps reduce fraud, money laundering risks, and regulatory breaches.
- Stable and Transparent Fees: Transaction costs on GCUL are predictable and billed monthly, helping institutions manage regulatory reporting and budgeting effectively, unlike the volatile fees on public chains.
- Single API Access: GCUL is offered as a managed cloud service accessible via a unified API. This simplifies integration while allowing institutions to comply with regulations through standardized interfaces.
- Auditability and Transparency: Every transaction is recorded on a shared ledger with full audit trails, ensuring observability for regulators and simplifying compliance audits.
- Built on Google Cloud Infrastructure: Leveraging Google Cloud’s security, privacy, and compliance certifications further supports meeting global regulatory requirements.
In summary, GCUL’s permissioned design, mandatory KYC, integrated compliance features, and cloud-based API collectively ensure a regulatory-compliant and secure environment well-suited for regulated financial markets and institutions.