Google Cloud launches MPC service that splits private keys so no one holds the whole thing

The new Multi-Party Compute service targets banks and institutions, putting Google Cloud in direct competition with Fireblocks and BitGo Google Cloud wants to fix one of crypto’s oldest problems: a single private key that can lose everything if it leaks. On October 28, 2026, the company unveiled its Multi-Party Compute (MPC) service at its first digital assets symposium in New York City. The pitch is simple. Break every key into fragments, scatter them, and make sure no single location ever holds the complete thing. How the system works Multi-party computation takes a different approach. The key is split into multiple shares, and those shares work together to sign a transaction without the full key ever being reassembled in one place. Under Google’s design, those fragments live in separate environments. Some can sit on a customer’s own on-premises hardware. Others sit in Google Cloud. Still others can be held by different cloud providers entirely. The result is that compromising one environment is not enough. An attacker would need to breach several independent systems at once. Google supports threshold schemes including 2-of-3 and 5-of-7. A 2-of-3 setup means any two of three key ...