2026

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Apple

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Google is pushing its technology deeper into the infrastructure that financial institutions use to move money and digital assets.
In March 2025, <a href="https://www.cmegroup.com/media-room/press-releases/2025/3/25/cme_group_will_introducetokenizationtechnologytoenhancecapitalma.html" rel="noopener noreferrer nofollow">CME Group</a> and Google Cloud announced a pilot using Google Cloud Universal Ledger, or GCUL, for wholesale payments and tokenized assets. CME said the technology could make collateral, margin and settlement payments more efficient as markets move toward round-the-clock trading.
But moving tokenized money is only part of the challenge.&nbsp;
Banks also need tight control over who can authorize a transaction.
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 White House meets crypto and banking executives (2:14)
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Google is <a href="https://www.coindesk.com/tech/2026/10/28/google-to-preview-crypto-custody-security-system-as-ai-threats-grow" rel="noopener noreferrer nofollow">now previewing</a> Google Multi-Party Compute, a security service designed to help banks and other institutions safeguard and transfer cryptocurrencies and tokenized assets.&nbsp;
The product is in private preview, with commercial availability planned for early 2027.
The timing addresses a recognized banking risk. In July 2025, the Federal Reserve, FDIC and OCC <a href="https://occ.gov/news-issuances/news-releases/2025/nr-ia-2025-68a.pdf" rel="noopener noreferrer nofollow">said</a> the loss or compromise of cryptographic keys is one of the primary risks of crypto safekeeping.
A private key essentially acts as the credential needed to authorize a digital-asset transfer.
<h2 id="how-google-s-system-would-work">How Google’s system would work</h2>
Instead of storing a complete private key in one place, Google’s system splits control between separate key shares. Those shares work together to sign a transaction, Google told <a href="https://www.coindesk.com/tech/2026/10/28/google-to-preview-crypto-custody-security-system-as-ai-threats-grow" rel="noopener noreferrer nofollow">CoinDesk</a>.
<a href="https://www.thestreet.com/crypto/investing/cathie-wood-sells-bitcoin-buys-5-2-million-of-sinking-stock" rel="noopener noreferrer nofollow">Related: Cathie Wood sells Bitcoin, buys $5.2 million of sinking stock</a>
For example, a bank could keep one share on its own hardware and another in Google Cloud. Before a transfer is signed, rules can check where the funds are going, enforce transaction limits or require additional approvals.&nbsp;
<a href="https://www.coindesk.com/tech/2026/10/28/google-to-preview-crypto-custody-security-system-as-ai-threats-grow" rel="noopener noreferrer nofollow">Google says</a> this reduces the risk of a single compromised system gaining control of the assets.
The idea itself is not new to Google.&nbsp;
In 2023, Google Cloud published a <a href="https://cloud.google.com/blog/products/identity-security/how-to-secure-digital-assets-with-multi-party-computation-and-confidential-space" rel="noopener noreferrer nofollow">reference architecture</a> showing institutions how to build MPC-based signing systems using Confidential Space.&nbsp;
The <a href="https://www.coindesk.com/tech/2026/10/28/google-to-preview-crypto-custody-security-system-as-ai-threats-grow" rel="noopener noreferrer nofollow">new service</a> packages signing, transaction policies and recovery into a dedicated product instead of requiring customers to assemble those components themselves.
Google’s financial infrastructure push has also expanded elsewhere. In March 2026, BMO, CME and Google Cloud <a href="https://newsroom.bmo.com/2026-03-24-BMO-Introduces-Tokenized-Cash-and-Deposit-Platform-with-CME-Group-and-Google-Cloud" rel="noopener noreferrer nofollow">announced plans</a> for tokenized cash that could be used for margin, collateral and settlement. BMO targeted the second half of 2026 for that separate project, subject to regulatory approval.
<h3 id="popular-on-thestreet-roundtable">Popular on TheStreet Roundtable:</h3>
<ul>
 <li><a href="https://www.thestreet.com/crypto/markets/goldman-sachs-revises-rating-and-target-on-beaten-down-ai-stock" rel="noopener noreferrer nofollow">Goldman Sachs revises rating and target on beaten-down AI stock</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/nobel-prize-winners-blast-netanyahus-plan-as-markets-favor-gadi" rel="noopener noreferrer nofollow">Nobel Prize winners blast Netanyahu's plan as markets favor Gadi</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/mark-cuban-puts-bitcoin-and-apple-in-the-same-bucket" rel="noopener noreferrer nofollow">Mark Cuban puts Bitcoin and Apple in the same bucket</a></li>
</ul>
Wells Fargo has separately <a href="https://www.wellsfargojobs.com/en/jobs/r-520295/lead-cryptography-engineer-mpc-confidential-computing/" rel="noopener noreferrer nofollow">advertised</a> for an engineer to work on MPC technology for its own digital-asset platform, another sign of institutional interest in this type of security infrastructure.
Still, much remains unproven. Google has not named the banks testing its new service or <a href="https://www.coindesk.com/tech/2026/10/28/google-to-preview-crypto-custody-security-system-as-ai-threats-grow" rel="noopener noreferrer nofollow">disclosed pricing</a>. Post-quantum protection is also a future goal rather than a current feature.
And while <a href="https://www.coindesk.com/tech/2026/10/28/google-to-preview-crypto-custody-security-system-as-ai-threats-grow" rel="noopener noreferrer nofollow">rule-based signing</a> can make stolen credentials harder to exploit, it cannot eliminate every risk, including an authorized employee being tricked into approving a bad transaction.&nbsp;
For banks, Google’s system would therefore add another security layer, not replace their existing risk controls.
<a href="https://www.thestreet.com/crypto/markets/roundtable-100-analysts-boost-blocks-ranking-ahead-of-q3-earnings" rel="noopener noreferrer nofollow">Related: Roundtable 100 analysts boost Block's ranking ahead of Q3 earnings</a>

Google previews new security system built for banks

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