Google previews crypto custody security system for banks, with broader rollout expected around 2027

Google wants to help banks hold crypto without handing any single person, server or system the complete key to the vault.

The company is set to show off a new security product called Google Multi-Party Compute (MPC) at its first digital assets symposium in New York City on Wednesday. The service is built to help banks and other financial institutions safeguard and transfer crypto and tokenized assets.

One catch: it isn’t open to the public yet. The product sits in private preview, and a wider launch is expected around 2027.

What Google is actually building

In crypto, a private key is the secret that authorizes a transaction. If someone gets the key, they get the funds. MPC splits that key into separate shares held by different parties, so a full private key never sits in one place.

The practical result is fewer single points of failure. An attacker who breaches one machine or phishes one employee ends up holding a fragment, not the whole thing.

Google says its current protections focus on two specific threats: compromised credentials and unauthorized transactions. The company also says the service can eventually support post-quantum cryptography. That support is a future capability, not a feature of the current preview.

The quantum question, and the partners already on board

Google Research is actively working on quantum threats to existing cryptography, with post-quantum solutions in development highlighted in reports from 2026.

The MPC architecture used by Google Cloud has been running in collaboration with Anchorage Digital since 2025, according to research findings. Anchorage is a federally chartered crypto bank.

Google Cloud Universal Ledger (GCUL) is designed to support tokenized deposits and 24/7 settlement, and it is integrating with Jack Henry, a banking technology provider, as of October 16, 2026.

Why the timing lines up with the rest of the industry

Google is not alone in betting on MPC. Gemini Custody announced it would move all institutional accounts to MPC starting October 8, 2026. The exchange said the shift allows faster withdrawals and expanded blockchain support.

What this means for banks, custodians and the crypto market

There are clear caveats. The product is in private preview, broad availability is expected around 2027, and post-quantum support is described as something the service can eventually handle.

MPC also does not solve every custody problem. It reduces the danger of a single stolen key, but it does not remove risks tied to poorly designed approval policies, insider collusion across multiple key holders, or flaws in the software coordinating the signing. Google’s stated focus on compromised credentials and unauthorized transactions targets the most common failure points, not every possible one.