Google Cloud Builds Institutional Crypto Custody System Using Split-Key Technology
Google Cloud is developing a custody service called Google Multi-Party Compute, splitting private key control across environments to help banks secure digital assets.
AfroEuropa Newsroom
AfroEuropa desk
Google Cloud is building a digital asset custody service aimed at helping banks and financial institutions safeguard Bitcoin and other crypto assets without depending on a single private key, according to BitKE.
The service, named Google Multi-Party Compute, relies on multi-party computation (MPC). It spreads cryptographic key shares across separate environments, so multiple parties can jointly authorize a transaction without ever reconstructing the full private key in one place. Institutions using the system can set transaction limits, restrict the addresses funds may be sent to, and require approval thresholds before transfers are signed.
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