Google Unveils Multi-Party Compute Crypto Custody System for Institutional Digital Assets

Google has announced Google Multi-Party Compute (MPC), a purpose-built digital asset custody security system designed for banks and financial institutions. Currently in private preview with several major institutions, the commercial release is planned for early 2027. Parent company Alphabet is already using the technology internally to secure digital assets on the Ethereum and Solana blockchains. The system fragments private keys across distributed environments using Confidential Space to protect against hacks, which accounted for 43.8% of crypto stolen in 2024. The move positions Google directly against custody providers like BitGo and Fireblocks.