Google Cloud Launches Multi-Party Compute for Crypto Custody
What happened
Google Cloud introduced Multi-Party Compute (MPC) at a digital assets symposium in New York. This service splits crypto keys into shares across multiple locations, such as bank hardware and rival clouds. Alphabet Inc. is already using this technology to secure some of its holdings on Ethereum and Solana.
From memeburn.com
Why it matters
The MPC service targets the risk of stolen private keys, which accounted for 43.8% of crypto theft in 2024. As financial institutions move into tokenized assets and crypto custody, this technology aims to make digital key theft much harder.
From memeburn.com
Who's involved
- GoogleProvider of the Multi-Party Compute service
- Alphabet Inc.User of the MPC service to secure its digital assets
- EthereumBlockchain platform where Alphabet Inc. secures holdings
- SolanaBlockchain platform where Alphabet Inc. secures holdings
Keep exploring
The entities involved
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Google
American multinational technology company, a subsidiary of Alphabet Inc.
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Ethereum
public blockchain platform with programmable transaction functionality
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Solana
Mexican cottage manufacturer of sporting cars
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