Google Builds Crypto Custody Security Platform for Banks

Google has introduced a multi-party computation platform designed to help banks and financial institutions secure cryptocurrencies and tokenized assets without storing a complete private key in one place. Google is moving deeper into crypto infrastructure, this time by tackling one of institutional investors’ biggest concerns: who controls the keys. As part of its Digital Assets Symposium in New York on Wednesday, Oct. 28, Google unveiled the Google Multi-Party Compute (MPC). This custody platform distributes cryptographic key shares across separate environments; a bank could keep one share on its own hardware, another in Google Cloud, and another with a different provider. No single participant holds the complete private key. Transactions can also be checked against institutional policies, including spending limits, approved destinations, and multi-person authorization requirements, before signing.

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