Banks exploring tokenization and digital asset custody now have a new infrastructure option from one of the largest cloud providers: Google Multi-Party Compute is entering private preview and is being shown at Google's first digital assets symposium in New York.

The service splits private keys into fragments held across separate environments, for example Google Cloud, a bank's own hardware and a competing cloud. A policy engine inside Google's Confidential Space checks each transaction against institutional rules (transfer limits, allowed destinations, multi-department approvals) before signing, with thresholds such as 2-of-3 or 5-of-7.

Alphabet already uses the system to secure its own assets on Ethereum and Solana, while several unnamed financial institutions are testing it ahead of commercial availability in early 2027.

The product supports ECDSA and Ed25519 signing at launch, with an architecture designed for future post-quantum upgrades. It puts Google in direct competition with specialist custody tech providers such as Fireblocks, Fordefi and BitGo. Pricing has not been disclosed.