Google Pitches Banks on Splitting Crypto Keys Across Clouds With New Custody Service

Banks weighing crypto custody got a new option from Google Cloud on Wednesday: Google Multi-Party Compute , a key-signing service Google showcased at what it billed as its first event devoted to digital assets. The company’s pitch is that a bank can spread control of a key across several environments, so no single provider, Google included, holds all of it. A bank could hold one share on its own hardware, one in Google Cloud and one at a rival cloud provider, Google said, adding that it can’t read customers’ key shares in plaintext, even those kept on its own servers. The service is in private preview, and Google’s documentation describes it as a platform that combines threshold signing with transaction policies and governance controls.

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