Google is previewing a crypto custody security system for banks and other financial institutions, built on multi-party computation, in which independent participants hold separate key shares so no single party ever assembles a complete private key. Several design partners and major financial institutions are testing it in a private preview, Alphabet is using it to secure digital assets on Ethereum and Solana, and Google is targeting commercial availability in early 2027; the system can check transactions against institutional rules before they are signed and supports configurable thresholds such as two-of-three or five-of-seven signers. The main objective is to give institutions a proven custody option as private-key compromises mount and AI-assisted cyberattacks grow, putting Google in competition with specialist providers such as Fireblocks and BitGo. Key players include Rich Widmann, director of digital assets strategy at Google Cloud, who said regulated institutions need scalable, proven infrastructure to secure client assets.
Google to Preview Crypto Custody Security System as AI Threats Grow
