Google Cloud isdeveloping a cryptocurrency custody service for financial institutions thatdistributes transaction-signing authority across multiple systems. The productis in private preview, with commercial availability planned for early 2027.London's trading industry is coming home!Other financial firmsare also developing digital asset services for institutional clients. Spotexconnected its trading venue to BitGo's custody and settlement infrastructure,while VirtuFinancial joined BitGo Prime's liquidity network. JPMorgan has also plannedto acceptBitcoin and Ether as loan collateral for institutional clients, using athird-party custodian. Ripple partnered with South Africa's AbsaBank to provide digital asset custody technology.Called GoogleMulti-Party Compute, the service is designed to help institutions secureand transfer cryptocurrencies and tokenised assets without storing a completeprivate key in one place.Google Cloud'sdocumentation describes MPC as a key management service that allows separateparties to sign blockchain transactions collaboratively. The product remains inpreview, with support potentially limited.Google ExpandsBitcoin Transaction ControlsGoogle updated theservice's documentation on Monday, ahead of its MPC Symposium in New York onWednesday. The event focuses on the company's MPC technology and research.Speakers include representatives from Morgan Stanley, OKX, Citi and WellsFargo.Google's release notesshow that the service has received several updates since August. On 1 October,the company added rules to evaluate Bitcoin transaction amounts, identifydestination address types and detect change outputs. The update also introducedsupport for authorising Bitcoin transactions through its policy engine.JUST IN: Google Cloud previews institutional crypto custody service, launch planned for early 2027 https://t.co/E2dE8G068c— The Wolf Of All Streets (@scottmelker) October 28, 2026The service builds onGoogle's earlier work in multi-party computation. In 2023, the companypublished guidance on using its Confidential Space infrastructure to developsystems for securing digital assets.Alphabet Also Usesthe TechnologySeveral financialinstitutions are testing the service, according to CoinDesk. Alphabet is alsousing it to secure digital assets on Ethereum and Solana, though Google has notdisclosed the assets or their value. The service combines transaction signing,policy controls and key recovery. Google plans commercial availability in early2027 but has not announced pricing or a launch date.This article was written by Tareq Sikder at www.financemagnates.com.