Google Multi-Party Compute crypto custody service commercial release
⚠ The date is not confirmed yet and may change.
Google Cloud plans to release its MPC-based crypto custody service commercially for banks and large financial institutions, with the launch expected in the first quarter of 2027. The service is designed to support Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), and the exact release date has not been confirmed.
What is happening
Google presented the service, called Google Multi-Party Compute, on October 28, 2026. Instead of keeping a private key whole in one place, the system splits it into fragments held in separate compute environments, for example at Google, on the institution's own hardware and with a third provider. A transfer is signed only when enough environments compute together, so the complete key never exists at any single point.
A policy check runs before every signature and verifies the operation against the institution's own rules, such as amount limits, lists of permitted addresses or multi-department approvals. Google says this check runs in a sealed compute environment called Confidential Space. The threshold of fragments needed to sign can be configured, with two of three and five of seven given as examples. At general availability the service is to handle ECDSA signatures, used by Bitcoin and Ethereum, and Ed25519, used by Solana.
For now the offering is in a closed preview with development partners and larger financial institutions that Google has not named. Commercial release is announced for early 2027, and no pricing has been published. Google says quantum-safe signature methods may be supported later, once blockchains adopt them, but gives no date and the capability is not part of the preview. The company also states that Alphabet secures its own digital assets on Ethereum and Solana with the same technology.
Why it matters
Key compromise is the largest single cause of losses in crypto. According to an analysis of the DeFiLlama hack database compiled by cryptoticker.io, compromised keys account for $8.96 billion of $21.19 billion in recorded losses, or 42.3 percent. A custody model in which no single environment holds a usable key targets exactly this weakness, while the configurable threshold addresses both theft and loss of fragments.
The effect for ordinary holders is indirect. The service is aimed at institutions, and Google does not hold customer assets itself; the custodian, and its liability, remain with the institution, which in the EU needs authorisation under MiCA. If custody becomes easier for banks to run inside a major cloud, more institutions may offer crypto services, which could over time add competition among providers such as Fireblocks, Fordefi and BitGo. Between a closed preview and a bank offering the service to customers lie supervisory reviews, certifications and contracts, so the timeline remains uncertain.
Key details
- Date: Q1 2027 (quarter precision; exact day not announced, tentative)
- Project: Google Cloud
- Coins: BTC, ETH, SOL
- Category: Product Release
- Status: Tentative
- Source: cryptoticker.io (https://cryptoticker.io/en/google-crypto-custody-banks-mpc/)