Google LLC is preparing to launch a new service designed to help financial institutions secure digital assets, as first reported by Silicon Angle.
The offering, called Google Multi-Party Compute, is currently undergoing testing with major financial sector participants. Alphabet Inc. is already utilizing the technology to secure its own Ethereum and Solana holdings. The service addresses the vulnerability of crypto wallets, which rely on single private keys that are susceptible to theft. By using multi-party computation, the system splits private keys into multiple fragments stored across separate systems, significantly increasing the difficulty for hackers to breach the security. Users can customize the number of fragments required to authorize transactions, allowing for flexible security policies and easier recovery in the event of data loss. The service also supports distributing key fragments across Google Cloud, rival platforms and on-premises hardware. Transaction policies are enforced within Confidential Spaces, which are hardened containers that encrypt network connections and minimize attack surfaces. While the service is currently in private preview, Google plans to make it generally available in early 2027 to help institutions manage digital asset risks.
Source: Silicon Angle
