Google Cloud details multi-party security service for Bitcoin custody

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Google Cloud has outlined a service that enables financial institutions to approve and sign cryptocurrency transactions jointly without any single party holding the complete private key.

The service, called Multi-party Compute (MPC), is available in preview and is designed for institutional Bitcoin custody. An update on 1 October added checks to assess transaction amounts, identify destination address types and detect change outputs.

Google updated the service documentation on Monday, ahead of its MPC Symposium in New York on Wednesday. The event features speakers from Morgan Stanley, OKX, Citi and Wells Fargo. The service remains in preview, with potentially limited support.