Google unveils MPC crypto custody service for financial institutions
- —Key shards are split across Google Cloud, client hardware and other cloud providers
- —Supports 2-of-3 and 5-of-7 thresholds with limit, address and approval checks before signing
- —ECDSA and Ed25519 at launch, with post-quantum algorithms planned later
- —It will compete with Fireblocks, Fordefi and BitGo
Why it matters: A major cloud provider entering institutional custody intensifies competition with specialized crypto custodians.
Source: PANews