Google launches MPC crypto custody security platform for banks, plans commercial rollout in early 2027

October 29 — Google announced the Google Multi-Party Compute custody platform at the New York Digital Asset Symposium, aimed at banks and financial institutions, storing private key shards across different environments to avoid concentrating the full private key in one place. Before transaction signing, spending limits, whitelisted addresses, and multi-party authorization can be verified according to institutional policies. The service is currently in private preview, with plans for commercial launch in early 2027, and says several major financial institutions have already tested it.

Alphabet has used the technology to protect digital assets on Solana and Ethereum, without disclosing specific holdings or the list of testing institutions. Google said Chainalysis data shows that private key leaks accounted for approximately 43.8% of total crypto assets stolen in 2024. The current product is not a post-quantum solution, but the architecture can incorporate post-quantum cryptography in the future.