Google Cloud has given more detail on an MPC service for institutional Bitcoin custody. The service is still in preview. Cointelegraph reported the news on Oct 28, 2026, while Google Cloud was hosting a symposium in New York on digital asset security.
The service is built for financial institutions. Several parties approve and sign a cryptocurrency transaction together, and no one of them ever holds the complete private key. If one party is compromised or acts alone, that party cannot move the funds.
The report does not say when the preview will end or what the service will cost. It also does not name any institutions using it or any exchanges involved. Those details are not yet known.
For someone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. It is a custody tool for institutions. It does not affect funding rates, trading fees or order book liquidity on any of these exchanges, and none of them is named in the report.
Source: cointelegraph — Google Cloud outlines MPC service for institutional Bitcoin custody
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