Google previews MPC crypto custody service for banks amid rising AI threats
Briefing by News4U · First published
Google Cloud is previewing its Multi-Party Compute (MPC) system to help financial institutions secure cryptocurrencies and tokenized assets, with commercial availability planned for early 2027.
Google Cloud is previewing its Multi-Party Compute (MPC) service to help banks and financial institutions securely manage and move cryptocurrencies and tokenized assets, with the system in private preview and commercial availability planned for early 2027. [1] [2]
The MPC technology splits private keys across multiple systems to eliminate single points of failure, and Alphabet is already using it to secure its own digital assets on Ethereum and Solana blockchains. [1]
Google is positioning the service as a response to AI-enhanced cyberattacks and quantum computing threats, while institutions including Morgan Stanley, Citi and Wells Fargo are participating in its MPC Symposium in New York. [1] [2]
Sources
- Google to preview crypto custody security system as AI threats grow
CoinDesk · · Excerpt
- Google Cloud outlines MPC service for institutional Bitcoin custody
Cointelegraph · · Full text