Google is introducing Google Multi-Party Compute, a cryptocurrency custody system that splits signing keys among several parties or machines, in private preview with financial institutions. Alphabet is already using the tool to protect its own assets, while Google plans commercial availability in early 2027 without disclosing pricing. Before any transaction, a policy engine running in Google Confidential Space checks transfer limits, permitted destinations and approval requirements, with Google saying it cannot access key shares in unencrypted form. According to Chainalysis, compromised private keys accounted for 43.8% of cryptocurrency stolen in 2024, while key compromises caused roughly 40% of the $16.69 billion lost to hacks through June. Google is therefore entering a market led by Fireblocks, Fordefi and BitGo, relying on its banking relationships and security expertise.
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