Google Previews MPC Crypto Custody System for Banks With Commercial Launch Targeted for Early 2027

Google has unveiled a new security service designed to help banks and financial institutions safely store and transfer cryptocurrencies and tokenized assets, presenting the product at its inaugural digital assets symposium in New York City. The service, officially called Google Multi-Party Compute, uses multi-party computation to split private-key fragments across multiple separate environments and applies institutional policy rules before any transaction is signed, eliminating the single point of failure that makes conventional key storage vulnerable to hackers and emerging AI-driven threats.

The product is currently in private preview and is not yet commercially available. Several major financial institutions are already testing it as design partners, though Google has not named them. Alphabet, Google's parent company, has begun using the system to secure its own digital assets on the Ethereum and Solana blockchains. Commercial availability is planned for early 2027, with pricing not yet disclosed.

The launch addresses a growing concern in institutional digital asset management: concentrated private-key exposure that a single breach or quantum computing attack could exploit. By distributing signing authority across separate environments, the system ensures no compromised machine alone can expose institutional assets.