GK8, a cybersecurity company that offers high-security custodian technology for managing and safeguarding digital assets, announces its proprietary end-to-end custody solution, designed for banks and financial institutions, is now available for institutional customers that want to offer custody of Hedera’s native HBAR and HTS-based tokens.
With an ability to process 10,000 transactions per second, asynchronous Byzantine fault tolerance security, and its world-class governing council, the Hedera network is already one of the world’s most-used public distributed ledger network.
With Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF
(Électricité de France), eftpos, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura Holdings, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Groupon the Hedera Governing Council, Hedera Hashgraph aims to set the next standard for the global token economy. GK8’s compliance and governance-ready solution will work to protect the assets of Hedera’s enterprise users.
The GK8 Cold Vault uniquely enables the user to authorize a transaction without connecting
to the internet, operates on a unidirectional basis, removing all cyber attack vectors – paired with a patented Multi-Party Computation for scalable, high-frequency transactions. This integration will allow Hedera’s enterprise users to manage their own assets, generate new revenue streams, and generally embrace digital assets in a secure, compliant, and
performant manner. GK8 has an arrangement with AON UK which provides GK8 customers
to quickly and seamlessly access the largest insurance coverage in the market today, which
is upwards of $500 million per vault.
GK8 was recently chosen by Mastercard to engage in defining the future of blockchain
finance and payments in its Startup Path program dedicated to facilitating the growth of the most innovative crypto solutions globally. GK8’s portfolio of clients grew 400% in 2020, and currently serves clients who manage billions of digital assets. Some of those clients include eToro, currently at $10B market value, blockchain trading platform INX, which was the first SEC regulated IPO that raised $125M through a security token and equity offering, and Prosegur, one of the world’s largest custodians with more than $400B assets under
“We are thrilled to partner with Hedera Hashgraph, one of the most promising distributed
ledger networks,” says Lior Lamesh, CEO and Co-Founder of GK8. “This collaboration
provides an additional level of security for Hedera-based digital assets, enabling more
enterprises and financial institutions to push forward into the digital ecosystem.”
“As the distributed ledger technology market continues to mature, an increasing number of
organizations are looking for enterprise-grade, self-managed custody solutions,” said Azeem Malik, Vice President of Global Business Development for Hedera Hashgraph. “We are pleased that the protection granted by GK8’s custodial technologies will now be available to a wide set of HBAR and HTS-based token users, thus furthering the growth of the industry’s most used, enterprise-grade public network.”