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Google previews multi-party compute crypto custody system for banks

Google has launched a private preview of Google Multi-Party Compute, an institutional crypto custody service tested by major banks, with commercial rollout planned for early 2027.

Google Cloud logo on a white background.
Image: @scottmelker

Google has placed a new digital-asset custody and security system into private preview to help banks and financial institutions store and transfer cryptocurrencies and tokenized assets. According to reporting by CoinDesk, Google's parent company, Alphabet, is already using the technology, known as Google Multi-Party Compute (MPC), to secure its own digital assets on Ethereum and Solana.[12][4][3][10][11]

Several major financial institutions are testing the system ahead of a broader commercial launch targeted for early 2027. The architecture divides private-key material across separate environments and checks transactions before approval, allowing institutions to sign transactions without any single party controlling the complete key or creating a single point of failure.[12][1][2][4][8][9]

Google Cloud detailed the institutional custody offering during a New York symposium focused on digital asset security. The preview comes as financial institutions face mounting security concerns, including AI-driven threats and potential quantum vulnerabilities.[6][12][7][9]

Key facts

  • Google launched a private preview of Google Multi-Party Compute, a custody security service for banks and financial institutions.
  • Alphabet already uses the MPC system to secure its own digital assets on Ethereum and Solana.
  • Multiple major financial institutions are currently testing the custody system.
  • Commercial availability and full launch are scheduled for early 2027.
  • The service splits private-key material across distinct systems to sign transactions without one party holding the entire key.
  • Google Cloud detailed the MPC preview during a digital asset security symposium in New York.

Sources · 12 sources

  1. BL

    BlockNews@blocknewsdotcomPost on X ·

    🚨 JUST IN: Google $GOOGL is set to unveil its Multi-Party Computation (MPC) crypto custody system! The technology is already being tested by major financial institutions, signaling growing interest in institutional crypto security. https://t.co/HfRfz07hKU

    Open source
  2. TM

    That Martini Guy ₿@MartiniGuyYTPost on X ·

    Google is testing a new crypto custody security system, and Alphabet is already using it to secure digital assets on Ethereum and Solana. Google Multi-Party Compute splits private-key material across separate environments, reducing the risk of one compromised machine exposing the assets. Several financial institutions are also testing it, with commercial availability planned for early 2027. Institutional crypto adoption needs more than trading access. Banks need ways to protect assets, enforce transaction controls and operate at scale without creating a single point of failure.

    Open source
  3. WG

    Watcher.Guru@WatcherGuruPost on X ·

    JUST IN: Google unveils new security system to help banks safely store and transfer cryptocurrencies and tokenized assets.

    Open source
  4. TE

    TechmemeArticle ·

    Google unveils Google Multi-Party Compute (MPC), a digital-asset custody and security service in private preview, set for commercial availability in early 2027 (Aoyon Ashraf/CoinDesk) Aoyon Ashraf / CoinDesk : Google unveils Google Multi-Party Compute (MPC), a digital-asset custody and security service in private preview, set for commercial availability in early 2027 — Google to showcase a new security system designed to help banks and other financial institutions safeguard and move cryptocurrencies …

    Open source
  5. TW

    The Wolf Of All Streets@scottmelkerPost on X ·

    JUST IN: Google Cloud previews institutional crypto custody service, launch planned for early 2027 https://t.co/E2dE8G068c

    Open source
  6. CT

    Coin TelegraphArticle ·

    Google Cloud outlines MPC service for institutional Bitcoin custody Google Cloud has detailed its preview MPC service for institutional Bitcoin custody as it holds a New York symposium focused on digital asset security.

    Open source
  7. CB

    Crypto BriefingArticle ·

    Google previews crypto custody security system for banks, with broader rollout expected around 2027 Google's crypto custody system could redefine digital asset security for banks, enhancing resilience against breaches and quantum threats by 2027. The post Google previews crypto custody security system for banks, with broader rollout expected around 2027 appeared first on Crypto Briefing .

    Open source
  8. CO

    Cointelegraph@CointelegraphPost on X ·

    🔥 JUST IN: Google Cloud details a preview Bitcoin custody service that lets institutions sign transactions without one party controlling the full private key. https://t.co/kovsxMi4gJ

    Open source
  9. CB

    Coin Bureau@coinbureauPost on X ·

    ⚡️UPGRADE: Google unveils a new CRYPTO SECURITY system for banks as compromised private keys accounted for 43.8% of crypto theft in 2024, per Chainalysis. The new Multi-Party Compute (MPC) service splits wallet keys across multiple systems and checks transactions BEFORE approval, reducing the risk of a SINGLE breach exposing funds. Alphabet is already using the technology to secure assets on Ethereum and Solana, while major financial institutions are testing it. Google also plans future POST-QUANTUM security upgrades, with commercial rollout targeted for early 2027.

    Open source
  10. CN

    crypto.news@cryptodotnewsPost on X ·

    JUST IN: Google launches security system for banks handling crypto and tokenized assets The new infrastructure is designed to help financial institutions securely store and transfer digital assets as traditional finance expands its onchain operations. https://t.co/S2AS9eV2kE

    Open source
  11. DN

    DEGEN NEWS@DegenerateNewsPost on X ·

    BREAKING: @Google PREVIEWS "GOOGLE MULTI-PARTY COMPUTE" - A CRYPTO CUSTODY AND SIGNING SERVICE FOR BANKS, WHICH ALPHABET ALREADY USES TO SECURE ITS OWN ASSETS ON ETHEREUM AND SOLANA SOURCE: https://t.co/G5t3yhZbHW https://t.co/5L9dlJNefy

    Open source
  12. CO

    CoindeskArticle ·

    Google to preview crypto custody security system as AI threats grow Google Multi-Party Compute is in private preview, with several major financial institutions testing the technology and parent company Alphabet using it to secure its own digital assets on Ethereum and Solana.

    Open source