Google is developing a security system for financial institutions to store and transfer cryptocurrencies and tokenized assets. The product, Google Multi-Party Compute (MPC), is currently in closed testing with developers and financial organizations. Alphabet is already utilizing the system to secure its own digital assets on the Ethereum and Solana networks.
The MPC technology distributes private key fragments across independent environments, preventing a single point of failure. Transactions are processed within Google Confidential Space, where they are verified against internal bank policies. Google states that it cannot access the key material in an unencrypted format, ensuring client control over assets.
The commercial launch of Google MPC is scheduled for early 2027. The service will initially support ECDSA and Ed25519 digital signature algorithms, with plans to integrate post-quantum cryptography in the future. Google aims to compete with established institutional custodians like Fireblocks, Fordefi, and BitGo by positioning itself as a neutral infrastructure provider.
The company will officially present the system on October 28 at its first symposium dedicated to digital assets. According to TRM Labs, infrastructure compromises accounted for approximately 76% of all crypto industry losses in the first half of 2026. Google intends to address these security challenges through its new infrastructure offering.
