Google blockchain GCUL may become a strong competitor to XRP Ledger

Google's parent company, Alphabet, recently released a new blockchain, the Google Cloud Universal Ledger (GCUL), some of which appear to directly compete with Ripple Labs' XRP Ledger (XRPL).
Similar to XRPL, the GCUL will be a distributed underlying blockchain that supports API interfaces, 24/7 low-latency operation, programmable asset tokenization, payment automation and other financial applications, charges for transactions, supports institutional-level infrastructure, facilitates global payments, and integrates with third-party wallets. This set of features, combined with the GCUL's focus on banking and payments, pretty much replicates XRPL's years of hype. In fact, when reading Google's documentation, one might not even be able to tell whether certain passages describe GCUL or XRPL. For example, the GCUL will be used to "manage commercial bank currency accounts and facilitate transfers through distributed ledgers, empowering Financial Institution Groups and intermediaries."
Although XRP is the third-largest crypto asset, GCUL was built and named by one of the world's top five companies. The combined market capitalization of XRPL and its backer Ripple is only hundreds of billions of dollars, while Alphabet is as high as 2.50 trillion dollars. More importantly, GCUL not only has a larger parent company endorsement, but also has a pilot partnership with CME, the world's largest options and futures exchange. CME has tested asset tokenization on the GCUL blockchain - possibly involving commodities, options or futures contracts. On XRPL, CME has never conducted any asset tokenization experiments.