Google Cloud outlines MPC service for institutional Bitcoin custody

Google Cloud has detailed its preview MPC service for institutional Bitcoin custody as it holds a New York symposium focused on digital asset security.

Google’s cloud computing division is progressing with a service that lets financial institutions jointly authorize and sign cryptocurrency transactions without giving any single party control over the full private key.

Google Cloud detailed its Multi-party Compute (MPC) service in documentation updated Monday, positioning the preview product for institutional Bitcoin custody. The service remains in preview, meaning Google provides it as is, with potentially limited support.

The documentation update preceded Google Cloud’s MPC Symposium, taking place Wednesday in New York. The event promises an “exclusive revealing of Google’s frontier MPC product and research projects,” according to its description, and features speakers from financial institutions including Morgan Stanley, OKX, Citi and Wells Fargo.

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