GUID and UUID refer to different things in general.
Also, depending on the context, they can be longer than 128-bits.
Oracle Coherence API defines 256-bit UUIDs for example (which is clearly not RFC 4122 or Microsoft GUID, but it still is an identifying number which can statistically be called unique, which a UUID is).
As long as it meets the statistical properties for collision, I don't see any problems with making a 50-bytes GUID. The essential thing is the statistical property, not the number of bits.