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Google Previews Crypto Custody Security System Ahead of 2027 Launch
The service uses multi-party computation to split private keys across systems and add policy checks, with Chainalysis saying 43.8% of crypto theft in 2024 involved key compromises.
Google is testing a crypto custody security system for banks, using multi-party computation to protect private keys and authorize institutional transfers.
Google is developing a new system to help banks protect and securely transfer crypto assets. The service, currently being tested with a limited number of participants, distributes transaction authorization across different systems. The company plans to launch the product commercially in early 2027.