Google Pitches Banks on Splitting Crypto Keys Across Clouds With New Custody Service
By Unchained
AI summary of the source article
Google Cloud has introduced Google Multi-Party Compute, a key-signing service currently in private preview. The platform enables banks to distribute crypto key shares across multiple environments so that no single provider holds the complete key.
Why it matters
According to Rich Widmann, director of digital assets strategy at Google Cloud, "Digital asset adoption and tokenization are at an inflection point. As regulated financial institutions begin adopting blockchains and tokenization, they need scalable, proven infrastructure to secure their clients’ assets."
Key facts
- Google Multi-Party Compute lets institutions split key control across environments, such as on-premise hardware, Google Cloud, and rival cloud providers.
- Parent company Alphabet is using the service for its own Ethereum and Solana holdings, alongside tests by unnamed banks.
- The service is currently in private preview, with general availability targeted for early 2027.
Source excerpt · Unchained
A bank can keep one key share on its own hardware so no single provider, Google included, ever holds a full key; Google is targeting a broad release in early 2027. The post Google Pitches Banks on Splitting Crypto Keys Across Clouds With New Custody Service appeared first on Unchained .