Gemini Upgrades Custody With MPC for Faster Withdrawals

Gemini has upgraded its custody service with multi-party computation (MPC) technology, enabling withdrawals in minutes and giving customers more flexibility.

The system supports multiple blockchains and allows users to approve transfers with their own passkeys. The changes are intended to improve transaction speed and give customers more flexibility when managing digital assets.

MPC distributes control of transaction authorization across multiple parties instead of relying on a single complete private key. Passkey approvals allow customers to authorize transfers through credentials they control.

Gemini operates as a cryptocurrency exchange and custodian, allowing customers to buy, sell and store digital assets. The custody upgrade focuses on faster access and broader support for blockchain transactions.