Google launches MPC-based cryptographic custody security platform for banks, targeting commercial rollout in early 2027

On October 29, Google officially launched its Multi-Party Compute (MPC) custody platform—Google Multi-Party Compute—at a digital assets workshop in New York, specifically designed for banks and financial institutions. The platform employs private key sharding, splitting each full private key across isolated, mutually separated environments to eliminate the risk of centralized private key exposure. During transaction signing, the system dynamically enforces compliance controls—including spending limit checks, whitelisted address verification, and multi-signer approval—based on customer-defined policies. The service is currently in private preview and is expected to enter general availability in early 2027. Google confirmed that several major global financial institutions are already participating in early testing. Alphabet has already deployed this technology in production to secure its digital assets on Solana and Ethereum, though it has not disclosed specific holdings or the names of institutions involved in the testing. Citing Chainalysis data, Google noted that in 2024, private key compromises accounted for 43.8% of total crypto theft losses for the year. Notably, the current version is not natively post-quantum cryptographic (PQC)-ready—but its underlying architecture is designed to support a smooth, future upgrade path to PQC.