Google will present a security system designed to help banks and other financial institutions safeguard and move cryptocurrencies and tokenized assets.
The product, called Google Multi-Party Compute (MPC), is currently in private preview, CoinDesk reports. Several major financial institutions are testing it, and Alphabet itself has begun using the technology to secure its own digital assets on Ethereum and Solana. Commercial availability is planned for early 2027. Google has not disclosed pricing.
MPC is not a new concept. The approach splits a private key into fragments and distributes them across separate systems so there is no single point of failure. In 2023, Google published guidance on how customers could build MPC-based digital-asset systems using its Confidential Space infrastructure.
However, the company has not previously offered a dedicated MPC custody product for cryptocurrencies. Its existing services, Google Cloud KMS and Cloud HSM, are used to manage cryptographic keys, but the new offering combines MPC-based signing, transaction policies and key recovery into one purpose-built service.
“Digital asset adoption and tokenization are at an inflection point. As regulated financial institutions begin adopting blockchains and tokenization, they need scalable, proven infrastructure to secure their clients’ assets” said Rich Widmann, director of digital assets strategy at Google Cloud.
Stolen private keys remain a major source of crypto losses. According to Chainalysis’ report, about 43.8% of the cryptocurrency stolen in 2024 is said to have been the result of their actions. As reported by DeFiLlama, blockchain hacks and exploits incurred approximately $16.69 billion in losses as of June 2026, as in around 40% of the losses were associated with the hacking of compromised private keys.
The latest incidents include the March hacking of stablecoin firm Resolv, which resulted in about $25 million in losses and the breach of Humanity Protocol in June, where a reported $32 million was siphoned off from multiple wallets.
The security challenge is expected to grow as artificial intelligence and quantum computing advance. Chainalysis found that cryptocurrency scams linked to AI-tool vendors extracted an average of $3.2 million per operation in 2025, compared with $719,000 for scams without such links.
In his remarks, Ethereum researcher Justin Drake mentioned that eventually, the advances in AI could create methods of breaking the mathematics behind the protection of Bitcoin and Ethereum digital signatures.
The company adds that the architecture is designed to support future upgrades to post-quantum cryptography without requiring institutions to rebuild their systems.
How the system works
A bank, for example, could keep one share of a cryptographic signing key in Google Cloud, another on its hardware and a third with a different cloud provider. When the bank wants to move assets, the transaction enters Google’s Confidential Space, where a policy engine checks it against the institution’s rules before signing can begin.
Those rules can include transfer limits, restrictions on destination wallets and requirements for approval from multiple departments. The checks run inside hardware-isolated environments.
The system supports different signing thresholds, such as two-of-three or five-of-seven. The complete private key is never stored in one place, and Google says it cannot access customers’ key material in unencrypted form.
