Google has announced Google Multi-Party Compute (MPC), a new digital-asset custody and security service aimed at banks and other financial institutions. The service is currently in a private preview with several large institutions and is scheduled for commercial availability in early 2027. Parent company Alphabet is already utilizing the technology to secure its own holdings on the Ethereum and Solana blockchains.
The MPC service is designed to enhance security by splitting a private key into fragments and distributing them across different machines and clouds, removing a single point of failure. Before any transaction is approved, it is routed through a rules engine to be checked against the institution's predefined policies. This move places Google in competition with established digital asset custody firms like Fireblocks and BitGo.