Google says Multi-Party Compute custody service due in early 2027

Key points

• Google Multi-Party Compute splits private keys across separate environments and checks transactions against institutional rules before signing.
• Chainalysis found compromised private keys accounted for 43.8% of crypto stolen in 2024, and DefiLlama puts cumulative hack losses at $16.7bn as of June.

The system spreads fragments of a private key across separate environments, so no single machine holds the whole key. Transactions pass through Google's Confidential Space, where a policy engine checks them against rules such as transfer limits, permitted destination wallets and multi-department approval before signing. Institutions can keep key shares on their own hardware, on Google Cloud or with another cloud provider, and Google says it cannot read key material in unencrypted form.

Alphabet, Google's parent, has begun using the service to secure its own digital assets on Ethereum and Solana. Google says the architecture can later support post-quantum cryptography, though its current protections target compromised credentials and unauthorised transactions.

The push comes as key theft weighs on the industry. Google enters a field served by Fireblocks, Fordefi and BitGo, arguing its banking ties and neutrality give it an edge.

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