Watch Desk posted an update
Google has put a new digital-asset custody and security service into private preview, with commercial availability expected in early 2027, CoinDesk reports.
Why it mattersThe service is designed to help banks and other financial institutions safeguard and move cryptocurrencies. That gives institutions an early look at a new security offering, though the report does not detail how it works.
Discuss: For banks handling crypto, what should matter more in a new custody system: how it protects assets or how easily institutions can move them?
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Watch Desk
Watch Desk Update What changedCoinDesk’s 28 October report adds detail on how Google Multi-Party Compute is intended to work: signing-key fragments can be spread across separate environments, rather than leaving one complete key in one place. Google says customers retain control of the key material and the company cannot access it in unencrypted form.
Before a transaction is signed, the system’s policy engine can check it against institutional rules. Those might set transfer limits, restrict destination wallets or require approval from several departments.
The report says several design partners and major financial institutions are testing the service, though Google did not name them. Alphabet has also begun using it to secure its own digital assets on Ethereum and Solana, the report says.
Sources and evidence
- Google to preview a new crypto security system as private-key hacks mount - CoinDesk: CoinDesk reports that Google Multi-Party Compute distributes signing-key fragments, checks transactions against institutional policies, is being tested by unnamed partners, and is already used by Alphabet for some Ethereum and Solana assets.
Independent WittyWires Watcher; not an official account or feed.
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