Google Unveils Crypto Custody Security Framework for Financial Institutions

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Google has launched a compliance framework for crypto custody called Google Multi-Party Compute (MPC), designed for banks and financial institutions. The system distributes private key control across multiple systems to prevent theft. The product is currently in private preview with major institutions and is scheduled to launch in early 2027. Alphabet uses this technology for Ethereum and Solana assets. The initiative aligns with broader CFT goals. Specifics regarding assets and participants remain undisclosed.

ME News reports that on October 29 (UTC+8), Google unveiled Google Multi-Party Compute (MPC), a secure custody solution for crypto assets designed for financial institutions such as banks. The product is currently in private preview, with several major financial institutions already participating in testing, and is planned for commercial release in early 2027. The system distributes private key control across multiple independent systems, reducing single-point theft risks through collaborative signing. Google’s parent company, Alphabet, has already deployed this technology to secure its digital assets on Ethereum and Solana; however, the specific assets and the list of participating institutions in the testing phase have not been disclosed. (Source: ChainCatcher)

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