This article is a comprehensive 2025 guide to Multi-Party Computation (MPC) wallets, explaining their security advantages over traditional wallets, comparing leading providers like Zengo and Fireblocks, and helping both individual and institutional users choose the best secure crypto wallet for their needs.
TL;DR: $2.2 billion in crypto was stolen in 2024. Hackers and scammers are becoming increasingly crafty, and traditional wallets, especially in the age of AI-powered attacks, are becoming more vulnerable to human engineering. So if you want to keep your funds safe in 2025, secure Multi-Party Computation wallets are the way to go. They use advanced cryptography to secure access to your crypto through a system of encrypted key shares, where not just one, but two or more are required to authorize any transaction. This guide will explain in detail how MPC wallets work, provide brief reviews of leading providers like Zengo and Fireblocks, and offer guidance on which MPC wallet is best suited for your needs in 2025.
It is often said that a chain is as strong as its weakest link. But what if we get rid of it entirely and replace it with something new?
In 2024, hackers stole $2.2 billion worth of digital assets, underscoring the relentless threat of wallet breaches, phishing schemes, and malware attacks. The security of traditional wallets is being left behind by the growing scale and sophistication of cybercrime, and as hackers get more creative, so should our means to protect our funds.
But why do traditional wallets fail? Generally speaking, it is because their security measures, no matter how advanced, have a simple, common point of failure: the user’s security key and the seed phrase that accompanies it. If only one key exists, all a hacker or scammer has to do to steal your crypto is get that key.
But what if there was another way? A separate system that is far more secure? Enter Multi-Party Computation wallets, which offer some of the most advanced crypto security systems in the market today. These MPC wallets use a completely different method: instead of having a private key, they use advanced cryptography to generate a number of fragmented key shares, which are stored separately across multiple parties and devices, and can only authorize a transaction through working together. In other words, no more weak links.
The following guide will explore the mechanics, benefits, and application of MPC wallets, spotlighting key providers such as Zengo and Fireblocks, and providing detailed reviews on the different services available today for both private individuals and institutions.
What Are MPC Wallets?
Multi-Party Computation wallets are the answer to the “weak link” problem of crypto security. Whereas traditional wallet services use single-key systems associated with a seed phrase, MPC wallets keep your funds safer by generating multiple separate key shares from the moment you create your account. These shares are stored separately among multiple parties and devices, and in order to access the funds, a number of holders of these shares (generally two-thirds, but it can vary between wallets) must cooperate to authorize it.
But there’s more! In order for the key shares to come together and unlock the funds, each MPC wallet service requires its own advanced cryptographic algorithm to “have the shares talk”, if you will, and without that algorithm, no transaction can go through. This here is what makes MPC crypto security so great. Not only do they discard the outdated private key system, but their security system has so many moving parts that hacking through them is nigh on impossible.
So, how does this work on your end? If you’re an individual investor, the MPC system will distribute the key shares between your main device, such as your smartphone, the wallet provider’s servers, which can request special information (such as a facial recognition check) in order to authorize a transaction, and an optional third backup device, like a secondary phone, a PC, or a special file stored in your cloud. Two of these shares would be required to greenlight a transaction, so you would simply need to do a quick biometric scan or have both primary and secondary devices at hand to give the OK. It’s very simple for you, but much harder for a hacker to break in.
For larger institutions, such as banks and fintech companies, the MPC system can split the shares among the devices of multiple people (Think one for the CEO, COO, and CFO), which inherently adds yet another level of security to the wallet by splitting authorization permissions among multiple decision makers.
All in all, compared to traditional, single-key wallets, MPC crypto security is definitely better at protecting your funds. Traditional wallets may be more user-friendly (though this varies from wallet to wallet!), but a single mishap like a hacked email, stolen smartphone, or phishing attack can easily result in your funds being irreversibly stolen. However, if an MPC wallet gets attacked, only one of multiple key shares would fall into the wrong hands, while the other shares and the algorithm needed to have them work would remain safe and sound. There is no weak link in the chain, no single point of failure.
Multisig vs MPC Wallets
Multisig wallets are a middle ground between MPC and traditional wallets. A reinforced chain, if you will. They use a multiple-key system to authorize access and sign transactions, and are generally considered to be more transparent as all key activity is recorded on-chain. However, Multi-Party Computation wallets remain a safer option. Here’s why:
First, MPC wallets don’t use keys at all. They have cryptographically generated key shares, rather than a number of full keys spread between devices. This difference is critical, as hackers only need to acquire the keys in multisig wallets, while in MPC wallets, they need both the key shares and the cryptographic algorithm to make use of them. This is far harder to achieve.
Second, as multisig wallets use multiple keys, each key leaves its own registry on the blockchain with every transaction. This is more transparent, sure, but it also can potentially expose dangerous metadata, like how many keys are needed for a transaction to take place. MPC wallets, on the flip side, carry out the entire authorization process off-chain, as instead of needing multiple keys, multiple key shares and an algorithm are required for transactions to go ahead.
It should be of no surprise, therefore, that many institutions have made the jump from multisig to MPC wallets in the past few years, precisely because of these benefits. Corporate needs for those extra layers of privacy and security make MPC wallets ideal for protecting both their digital assets and financial data, making them very attractive for banks, fintech companies, and Web3 developers.
So, when it comes to security, MPC wallets beat both traditional and multisigs by a considerable margin. They take some inspiration from the multisig system by requiring multiple parties to greenlight access, but they build on top of that through cryptography and off-chain authorization. A completely new system adapted for a new, more treacherous reality.
Why Use an MPC Wallet in 2025?
If 2024 proved anything, it’s that high-profile hacks, phishing attacks, and crypto scams are still on the rise, so if we want to prevent another $2.2 billion dollars (or more!) from being stolen again, switching to secure crypto wallets is a must. This is where Multi-Party Computation wallets come into play.
Rising Cyber Threats
Artificial intelligence has been revolutionary for cybercriminals. From the use of highly advanced chatbots to trick users, to the integration of AI in the coding of sophisticated malware, hackers have been harnessing these new technologies in increasingly alarming ways. And given the online nature of the cryptocurrency market, crypto users are among the most targeted demographics. If you’re an individual investor, you know the loss of your wallet key or falling victim to a scam can irreversibly wipe out years of your hard work in an instant.
So, how do you solve this? Make yourself a tough nut to crack.
Put yourself in the shoes of a hacker. Would you rather A) try to breach the security of a highly advanced MPC wallet service in the hopes of obtaining two or more key shares and the cryptographic algorithm to put them to use, or B) go after some random guy’s seed phrase?
Most hackers will pick the latter. It’s easier, more time-efficient, and requires far less skill. Remember, not all hackers are super shady programming geniuses wearing Guy Fawkes masks in a dark room full of monitors. Most are just common guys with a bit of coding knowledge who want to make a quick buck.
Retail vs Institutional Use
If you are a retail investor, MPC wallets simultaneously improve and simplify security by combining the strengths of multi-factor authentication with the elimination of seed phrases. In most cases, funds in traditional wallets are stolen via malware, phishing, or social engineering, exploiting security systems, or tricking users into handing over their keys. With MPC wallets like Zengo, however, a security breach would only compromise a single key share, keeping your crypto intact, and the complete lack of seed phrases means you can’t be tricked into giving them away.
For institutional use, meanwhile, wallets such as Fireblocks provide a reliable infrastructure specifically designed for businesses, securing their asset portfolios under MPC crypto security protocols. The splitting of key shares allows multiple people to keep custody of the institution’s wallet, ensuring, first, that no single person can take control of the funds for themselves, and second, that should one member of the institution be hacked, the wallet will remain shut tight.
Key MPC Wallet Benefits
- Security: Multi-Party Computation wallets are a great deterrent. They are hard to hack into, much harder to account for in phishing attacks, and as such, are a less desirable target for hackers. Your funds are far safer in an MPC wallet than with any other service.
- Privacy: Unlike multisig wallets, which reveal transaction approvals on-chain, Multi-Party Computation wallets sign transactions off-chain, keeping your metadata hidden from view. No peeping into what you’re doing or how you are doing it.
- Usability: Modern MPC wallets like Zengo and Fireblocks balance advanced cryptography with user-friendly designs, giving the user a great experience without sacrificing security. It’s a win-win.
Trade-offs and Drawbacks
Of course, no service can be perfect. While we strongly believe MPC wallets are the way to go, there are some important considerations to keep in mind:
- Partial Centralization: MPC wallets work by distributing key shares among multiple devices, and in some cases, this involves the wallet provider keeping custody of one of these shares. This varies from wallet to wallet, but keep it in mind just in case.
- Possible Vendor Lock-In: Some MPC wallet services use proprietary MPC protocols only available to that specific company, making users completely reliant on their server infrastructure to operate their wallets. This is particularly risky with wallets that do not allow users to export their key shares out of their system or use third-party apps.
- Latency and Performance Issues: You may suffer delays in authorizing some of your transactions, particularly when using services that keep custody of some of your key shares. If the wallet provider’s servers are down, their shares might be temporarily unavailable, and thus, your transactions will not be completed.
Top MPC Wallets in 2025
We have identified two Multi-Party Computation wallet services that make for great contenders for the title of best MPC wallet in 2025:
Zengo Wallet
Developed by KZen Network, Zengo is a self-custodial, high-security MPC wallet service designed for individual cryptocurrency investors. With over 1 million users as of April 2025, and with zero reported security breaches since their founding in 2018, Zengo stands as the premier MPC wallet service for retail users.
(Disclosure: CNC Intelligence is an affiliate of Zengo)
Key Features
Zengo’s keyless design eliminates the need for traditional seed phrases, reducing the risk of key loss or theft. It uses facial recognition, biometric scans, and encrypted cloud backups for wallet recovery, putting great emphasis on user convenience without sacrificing security. The wallet supports a wide range of cryptocurrencies across major blockchains, including Bitcoin, Ethereum, and Polygon, thus catering to a vast array of users with diverse portfolios.
In-app services include buying crypto with fiat currency, swapping tokens, and accessing decentralized finance (DeFi) protocols. As of 2025, Zengo offers both a mobile app and a web-based desktop browser interface, though it still requires the mobile app for key share authorization.
Zengo’s MPC system operates by generating a minimum of two shares upon wallet creation, with one being stored on the user’s mobile device and another on Zengo’s servers. All transactions require the authorization of both shares, and Zengo will only provide their go-ahead if the user’s identity is verified.
Zengo also provides a simple and secure Recovery Kit, which uses a two-step system that includes facial recognition authentication using 3d FaceLock, and a personal, cloud-stored recovery file, which will always be available to you should your mobile device be lost or stolen.
The wallet is available on both iOS and Android, featuring a user-friendly interface that makes it accessible to beginners. It also offers 24/7 customer support for assistance, enhancing user experience, and as an added bonus, the CEO and support staff are fairly active in the r/ZengoWallet subreddit.
Check out CNC’s full review of Zengo here.
Fireblocks Wallet
Fireblocks is an institution-grade platform that delivers a secure MPC wallet infrastructure for moving, storing, and issuing digital assets. It is primarily designed for institutions such as banks, exchanges, fintech companies, and Web3 developers, and offers a variety of services for managing digital assets, such as custody, treasury operations, tokenization, and payments, all safeguarded under Multi-Party Computation security. At the time of writing, in April of 2025, it provides services for over 2,000 clients like BNY Mellon and ABN AMRO, managing over 300 million wallets and facilitating more than $10 trillion in crypto transactions.
Key Features
Fireblocks’ services are specifically designed to cater to the needs of financial institutions, striking a balance between high security, compatibility with client companies’ various systems, and compliance with financial regulations. It also features a substantial array of configurable systems for setting transaction policies, approval workflows, roles, and governance rules, ensuring compliance and risk management. In other words, the number, distribution, and authorization thresholds of MPC key shares in Fireblocks’ wallets are all adaptable to each institution’s requirements.
Moreover, Fireblocks is designed to handle large-scale operations with thousands of transactions per second, and provides dedicated insurance for digital assets through a number of insurance broker partners. This is coupled with robust KYC/AML (Know your Customer, Anti Money Laundering) regulation compliance and transaction monitoring, stacking even more layers of protection on top of cybersecurity.
On the more technical side, Fireblocks offers APIs, SDKs, and a free Developer Sandbox for testing and integration, facilitating customization and deployment for all companies using their systems. They also provide dedicated account managers and 24/7 support to assist their clients, as well as an open community forum for their users to post and share their issues and concerns.
Other Notable MPC Wallet Providers
Coinbase:
- Company: Coinbase Global, Inc.
- Target: Individual and institutional users.
- Selling point: Leading US-based crypto service, with over 100 million clients and holding over $400 billion in digital assets. As of 2025, their entire MPC cryptography library has been open-sourced.
OKX (Formerly OKEx)
- Company: OK Group.
- Target: Individuals and institutional users.
- Selling point: OKX is the second-largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. It supports 37 different blockchains, and its MPC cryptographic library is open-source.
Curv (Acquired by PayPal)
- Company: PayPal Holdings, Inc.
- Target: Institutional users.
- Selling point: Curv is the first cloud-based institutional MPC wallet in the market, and its cryptographic infrastructure has been adopted by renowned companies like Franklin Templeton Investments and eToro.
Qredo
- Company: Fusion Laboratories Ltd.
- Target: Institutional users.
- Selling point: Qredo makes use of Distributed MPC technology, which ensures all key shares are distributed through independent nodes within a larger, world-spanning network. This means that, should Qredo’s servers ever be compromised, your key shares cannot be stolen.
Sinohope
- Company: Xinhuo Technology Holdings Co.
- Target: Institutional users.
- Selling point: Hong Kong-based, self-custodial MPC crypto wallet that features customizable approval workflows, multi-level disaster recovery, and KYC/AML compliance. They use an MPC-CMP protocol where all shares are needed to authorize transactions, but only one share, the user’s main share, can begin the process.
GK8
- Company: Galaxy Digital Holdings Ltd.
- Target: Institutional users.
- Selling point: GK8 uses Unlimited MPC technology, a variant of MPC that allows for the creation of a practically infinite number of shares to be created for each key, without ever sacrificing cryptographic security.
BitGo
- Company: BitGo, Inc.
- Target: Institutional users.
- Selling point: BitGo’s MPC system uses a double-splitting protocol, where private keys are not only divided into key shares, but the shares themselves are also split into “key shards” for an extra layer of checks.
Circle Wallet (formerly CYBAVO)
- Company: Circle Internet Group, Inc.
- Target: Individuals and institutional users.
- Selling point: Circle is the manager of the USDC stablecoin, an Ethereum ERC-20 token pegged to the US Dollar and a main competitor of USDT. It primarily serves institutions through their Wallet-as-a-Service programs.
Taurus
- Company: Taurus SA.
- Target: Institutional users.
- Selling point: Taurus provides Hardware Security Modules and MPC cryptography. Their Taurus-PROTECT service combines advanced MPC algorithms with Taurus’ proprietary firmware for high levels of crypto security.
Anchorage Digital
- Company: Anchorage Labs, Inc.
- Target: Institutional users.
- Selling point: Anchorage Digital is the only crypto-native bank to hold a charter from the US Office of the Comptroller of the Currency, and is trusted by companies like BlackRock and Triton Capital.
Choosing the Best MPC Wallet for Your Needs
If you made it all the way down here, it means you’re interested in giving MPC wallets a shot.
The choice of the best MPC wallet will greatly depend on your goals, your technical experience, and your operational needs. While security and privacy should always be your first priority, here are a few criteria for you to consider:
- User Type: If you are a private investor, your main priority after maximum security should be ease of use and recovery, as intuitive app designs and user-friendly interfaces are very desirable for a good experience. For institutional users, meanwhile, compatibility, scalability, and regulation compliance take center stage.
- Ease of Recovery: You really don’t want to lose access to your wallet, so make sure any service you choose has a secure, easy-to-use wallet recovery system. Wallets that feature facial recognition systems are highly recommended.
- Regulatory Status: Compliance with local and international regulations is important for all cryptocurrency users, but this is particularly relevant for institutional users. Make sure your wallet of choice is transparent about regulation compliance.
- Supported Assets: Make sure the wallet service you choose is compatible with your portfolio and supports all the tokens you plan to invest in.
Best MPC Wallet 2025 Recommendations
If you are a private investor, we highly recommend Zengo Wallet for its convenience, user-friendly design, ease of recovery features, and reliable security. It is compatible with all major blockchains, such as Bitcoin and Ethereum, and holds high standards of regulation compliance.
For institutions, meanwhile, our secure crypto wallet recommendation goes to Fireblocks, as its superb compatibility, scalability, and regulation compliance make it ideal for use by businesses.
That said, if you are a private investor seeking to carry out large transactions or a small business just starting up, evaluate both Zengo and Fireblocks to see which one adapts to your needs best. Fireblocks has more advanced features than Zengo, but perhaps Zengo’s simplicity and ease of use are better for your overall needs.
However, don’t just take our word for it. Carefully research any wallet service you may be interested in, look up their reviews online, and see for yourself if it’s truly fitting to your needs and standards.
What’s most important here is that you make the change. Traditional wallets are becoming more and more vulnerable to phishing attacks and seed phrase mishandling, so if you want your crypto to be protected in 2025 and beyond, make the jump to MPC.
The Future of MPC Wallets and Crypto Security
With cybercrime on its meteoric rise, Multi-Party Computation wallets are poised to dominate the cryptocurrency wallets market in the coming years. As distrust for traditional wallets grows, more and more users have made the transition to MPC, and in turn, MPC wallet services have become more efficient and user-friendly to encourage use.
As the user base grows, larger integration into more blockchains can be expected as well, together with AI-powered security tools for threat and fraud detection, Zero-Knowledge Proof protocols for enhanced security, and DeFi, CeFi, and Web3 technology for safer, more transparent, and decentralized operations.
Meanwhile, as financial regulations tighten, MPC wallets are also adapting and evolving to comply with new laws and restrictions. Most platforms have been adopting more reliable KYC/AML practices for legal compliance, such as transaction monitoring and identity verification through facial recognition, all while ensuring maximum security for their users.
MPC wallets are getting better and better as time goes on, so there’s no reason not to make the jump. In 2025, security no longer comes at the expense of convenience, and with a bright future ahead, MPC wallets will remain the safest option for keeping your crypto safe in the years to come.
Multi-Party Computation Wallets: Conclusion
If a chain is as strong as its weakest link, then replace it with something new.
Multi-Party Computation wallets are the next step in crypto security and are among the most secure wallet options available in the crypto market today. Their advanced, off-chain key share systems and advanced algorithms ensure a degree of security that no other wallet system can compare to, and that few hackers will ever even try to crack. They are reliable, convenient, highly compatible with multiple blockchains, and compliant with most regulations.
So if you have any digital assets you wish to keep safe, make the jump to MPC in 2025.
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