Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL)-owned Google is preparing to launch a security platform for financial institutions handling cryptocurrencies and tokenized assets.

Google Teases Crypto Security Framework

Nalin Mittal, Google Cloud’s Digital Assets lead, posted an explainer video on X, showcasing their new Multi-Party Compute system for institutional cryptocurrency custody.

The solution splits private keys across separate systems to avoid a “single point of failure.”

The full key never exists in one place. A bank might keep one share on its own infrastructure, another in Google Cloud and a third with a rival cloud provider. So if one share is lost, the other teams could approve a…