Google previews a multi-party computing security system to help banks store and transfer encrypted assets
Google previewed a security system called Google Multi-Party Compute (MPC) at a digital assets symposium held in New York, aiming to help banks and other financial institutions securely store and transfer cryptocurrencies and tokenized assets.
The product is currently in private preview, and several major financial institutions and design partners are testing it. Google parent Alphabet has begun using the system to protect its digital assets on Ethereum and Solana. Google plans to make it commercially available in early 2027, but has not disclosed pricing.
The system uses multi-party computation to split private keys and distribute them across different environments, and applies institutional rules for checks before transaction signing, reducing the risk that assets could be exposed if a single node is compromised. Google said customers retain control of the key material, and the company itself cannot access it in unencrypted form.
Original sources:
Title: Google to preview a new crypto security system as private-key hacks mount Publisher: CoinDesk Publication date: 2026-10-28 URL: https://www.coindesk.com/tech/2026/10/28/google-to-preview-crypto-custody-security-system-as-ai-threats-grow Source type: media report Verification status: read in this session, accessed on 2026-10-28 Supporting content: MPC product preview, private testing, Alphabet's own use, and 2027 commercialization plan
Title: Google previews new security system built for banks Publisher: TheStreet Publication date: 2026-10-28 URL: https://www.thestreet.com/crypto/business/google-previews-new-security-system-built-for-banks Source type: media report Verification status: read in this session, accessed on 2026-10-28 Supporting content: key-splitting mechanism, policy engine checks, and financial institution testing
Title: Google Previews Key-Splitting Crypto Custody Tool For Banks Publisher: Bitcoin Magazine Publication date: 2026-10-28 URL: https://bitcoinmagazine.com/news/google-debuting-a-bank-grade-crypto-tool Source type: media report Verification status: read in this session, accessed on 2026-10-28 Supporting content: multi-party computing principles, threshold settings, and Google's inability to access unencrypted key material
ABAB AI Insight
Google had previously provided related capabilities through infrastructure such as Confidential Space; this time it is integrating MPC signing, transaction policies, and key recovery into a dedicated product for digital assets. The report says banks are exploring the use of blockchain to issue tokenized assets and provide custody services.
The system allows institutions to place key shares separately in their own hardware, Google Cloud, and other cloud providers. After a transaction enters Google’s Confidential Space, a policy engine checks it according to preset limits, destination-address restrictions, and multi-department approval rules, and the full private key is never concentrated in a single location.
Alphabet has already been using the system to protect its own assets on Ethereum and Solana, but the specific asset types and scale were not disclosed. The names of testing institutions and pricing details were also not made public.
ABAB News · Cognitive Law
Google previews a multi-party computing system for institutional crypto asset custody and transfer.
The product splits keys and performs institutional rule checks before signing.
It is currently in private preview and plans to commercialize in early 2027.