Google Cloud is developing a cryptocurrency custody service for financial institutions that distributes transaction-signing authority across multiple systems. The product is in private preview, with commercial availability planned for early 2027.

London's trading industry is coming home!

Other financial firms are also developing digital asset services for institutional clients. Spotex connected its trading venue to BitGo's custody and settlement infrastructure, while Virtu Financial joined BitGo Prime's liquidity network.

JPMorgan has also planned to accept Bitcoin and Ether as loan collateral for institutional clients, using a third-party custodian. Ripple partnered with South Africa's Absa Bank to provide digital asset custody technology.

Called Google Multi-Party Compute, the service is designed to help institutions secure and transfer cryptocurrencies and tokenised assets without storing a complete private key in one place.

Google Cloud's documentation describes MPC as a key management service that allows separate parties to sign blockchain transactions collaboratively. The product remains in preview, with support potentially limited.

Google Expands Bitcoin Transaction Controls

Google updated the service's documentation on Monday, ahead of its MPC Symposium in New York on Wednesday. The event focuses on the company's MPC technology and research. Speakers include representatives from Morgan Stanley, OKX, Citi and Wells Fargo.

• Alpaca Seeks to Bridge Crypto and Stock Markets with Prime Brokerage Launch
• TP ICAP's Fusion Digital Assets Gains 4OTC Low-Latency Connectivity for Crypto Liquidity
• LSEG Expands Canton Role as DiSH Enables Digital Settlement

Google's release notes show that the service has received several updates since August. On 1 October, the company added rules to evaluate Bitcoin transaction amounts, identify destination address types and detect change outputs. The update also introduced support for authorising Bitcoin transactions through its policy engine.

JUST IN: Google Cloud previews institutional crypto custody service, launch planned for early 2027 https://t.co/E2dE8G068c

— The Wolf Of All Streets (@scottmelker) October 28, 2026

The service builds on Google's earlier work in multi-party computation. In 2023, the company published guidance on using its Confidential Space infrastructure to develop systems for securing digital assets.

Alphabet Also Uses the Technology

Several financial institutions are testing the service, according to CoinDesk. Alphabet is also using it to secure digital assets on Ethereum and Solana, though Google has not disclosed the assets or their value.

The service combines transaction signing, policy controls and key recovery. Google plans commercial availability in early 2027 but has not announced pricing or a launch date.