Google develops MPC service for crypto custody, targets 2027 launch
Tech & Launches ·
Google is building a multi-party computation service aimed at helping financial institutions secure and transfer crypto and tokenized assets, with commercial availability expected in early 2027.
The service is currently in private preview, according to a report from WuBlockchain. MPC, or multi-party compute, is a cryptographic approach that splits control over private keys or sensitive data across multiple parties, reducing the risk of a single point of failure in custody or transaction signing. For banks and other regulated entities handling digital assets, that kind of distributed key management is often a prerequisite for institutional-grade custody and asset transfer.
Notably, Google's parent company Alphabet is already using the underlying technology internally. Alphabet has been securing digital assets on both Ethereum and Solana with this approach, though it has not disclosed which specific assets are involved, per the same report. That existing internal use suggests the commercial product now in private preview builds on infrastructure Alphabet has already tested in production rather than a greenfield effort.
The move places Google among large technology companies extending infrastructure services into crypto custody and tokenized-asset transfer, an area that has drawn increasing interest from banks and other financial institutions looking to manage digital assets without building MPC systems in-house. A separate account of the launch describes it as a multi-party compute service built specifically for banks to custody and move crypto and tokenized assets, with the same early 2027 timeline, indicating the broad outlines of the plan are consistent across coverage.
Several details remain unspecified. Google has not named which financial institutions, if any, are participating in the private preview, nor has it outlined pricing, regulatory positioning, or which jurisdictions the service will initially target. Alphabet's undisclosed asset holdings on Ethereum and Solana also leave open questions about the scale and nature of its existing digital-asset exposure. What happens between now and the early 2027 commercial launch — including any expansion of the preview group or additional blockchain network support — is not yet known.