Google unveiled Google Multi-Party Compute (MPC) on Oct 28, an institutional custody system to help banks store and transfer crypto and tokenized assets.

Google unveiled Google Multi-Party Compute (MPC) on Oct 28, an institutional custody system to help banks store and transfer crypto and tokenized assets.

It splits private-key signing across isolated systems, so no single breach exposes the full key, and adds policy checks before approval, such as limits and compliance rules. Compromised keys drove 43.8% of crypto theft in 2024 per Chainalysis, cited by Coin Bureau.

It is in private preview with major financial institutions testing it, with Alphabet already using it for its own assets on Ethereum and Solana, per Solana and CoinDesk. No bank names were disclosed.

Google targets commercial launch in early 2027, with future post-quantum upgrades planned. The preview was timed to its digital-assets symposium in New York, as reported by CoinDesk.