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Google previews a split-key crypto custody service for banks, with commercial launch planned for early 2027
Summary
Google Cloud is previewing a multi-party computation (MPC) service that lets financial institutions jointly authorize and sign crypto transactions without any single party holding the full private key, CoinDesk, Cointelegraph and Bitcoin Magazine reported.
CoinDesk said Google Multi-Party Compute is in private preview with several major financial institutions testing it, and that Alphabet is already using it to secure its own digital assets on Ethereum and Solana.
Bitcoin Magazine, citing CoinDesk, said Google plans commercial availability in early 2027 and has not disclosed pricing, while Cointelegraph said Google Cloud's documentation positions the preview product for institutional bitcoin custody.
The details surfaced around Google Cloud's MPC Symposium in New York on Wednesday, which Cointelegraph said features speakers from Morgan Stanley, OKX, Citi and Wells Fargo.
Key facts
- Institutions can set signing thresholds such as two-of-three or five-of-seven, and a policy engine in Google's Confidential Space checks each transfer against limits, destination restrictions and approval rules before signing, Bitcoin Magazine reported.
- Google says it has no access to key shares in unencrypted form, per CoinDesk as cited by Bitcoin Magazine.
- Google Cloud's documentation was updated Monday, its release notes for the service date back to August 2026, and the service remains in preview with potentially limited support, Cointelegraph reported.
- On Oct. 1, Google expanded its bitcoin security rules to evaluate transaction amounts, identify destination address types and detect change outputs, according to Cointelegraph.
- Bitcoin Magazine said Google enters a market led by Fireblocks, Fordefi and BitGo.
- CoinDesk framed the launch around growing AI-driven security threats.
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