Google Debuting a Bank-Grade Crypto Custody Tool Built on Split Keys: Report
By Micah Zimmerman
AI summary of the source article
Google is unveiling Google Multi-Party Compute, a crypto custody tool that splits signing keys across separate systems. Currently in private preview with financial institutions and utilized by Alphabet, commercial availability is planned for early 2027.
Why it matters
"The pitch rests on a persistent problem. Chainalysis attributed 43.8% of cryptocurrency stolen in 2024 to compromised private keys."
Key facts
- Google Multi-Party Compute divides private signing keys into fragments across separate machines, so the full key is never assembled in one place.
- The product is in private preview with financial institutions and Alphabet, with commercial launch planned for early 2027.
- Transactions are checked against limits, destination restrictions, and approval rules by a policy engine inside Google's Confidential Space.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Google Debuting a Bank-Grade Crypto Custody Tool Built on Split Keys: Report Google is previewing a crypto custody system that splits private keys across separate environments, with several banks testing it ahead of a planned early 2027 launch. This post Google Debuting a Bank-Grade Crypto Custody Tool Built on Split Keys: Report first appeared on Bitcoin Magazine and is written b…