Google Cloud is developing a digital asset custody service that uses multi-party computation (MPC) to help banks and financial institutions secure Bitcoin and other crypto assets without relying on a single private key.
The service, called Google Multi-Party Compute, distributes cryptographic key shares across separate environments allowing multiple parties to jointly authorize transactions without reconstructing the complete private key in one location.
The system also allows institutions to
- establish transaction limits,
- restrict destination addresses, and
- set approval thresholds before transfers are signed.
Google says the design aims to reduce the risk of stolen credentials or compromised systems…
