‪Google’s New Security System Will Allow Banks to Store and Transfer Crypto and Tokenized Assets

Google Cloud is introducing Google Multi-Party Compute, a service showcased Wednesday at its first digital-assets symposium that lets banks store and transfer cryptocurrencies and tokenized assets without keeping a complete private key in one place. Banks split a signing key into shares held separately on their own hardware, in Google Cloud, and with a competing cloud provider; they set thresholds such as two-of-three or five-of-seven, so an attacker compromising fewer shares cannot forge a signature. Google says it cannot read customers’ key shares in plaintext. The service is in private preview with unnamed banks and partners; Alphabet is already using it for its Ethereum and Solana holdings, and commercial availability is targeted for early 2027.