Tel Aviv, November, 2021 —  GK8, a cybersecurity company that offers an end to end custody solution for managing and safeguarding digital assets, announces its full support of the Stellar Network, enabling banks and financial institutions using the GK8 solution to offer custody and tokenization services to include Stellar’s Lumen (XLM) token. 

Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services and has trusted enterprises like IBM already using the network. GK8’s proprietary end-to-end custody solution is the only solution that enables institutional users of Stellar to authorize a transaction without connecting to the internet. It operates on a unidirectional basis, removing all cyber attack vectors, and is paired with a patented MPC for scalable, high-frequency transactions. This integration with Stellar will allow GK8 customers to embrace digital assets in the most secure, compliant, and performant manner.

GK8 recently announced a partnership with State Street backed Securrency who is a primary user of Stellar. GK8 was also 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. 

“We are proud to integrate Stellar into our already robust solution,” says Lior Lamesh, CEO and Co-Founder of GK8. “Their vision of uniting the world’s financial systems is a perfect fit for our proprietary end-to-end custody solution. Institutions using Stellar will be able to generate new revenue streams, digitize assets, trade, and transform currency as it’s sent.” 

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 management.  GK8’s solution has an arrangement with AON UK for customers to quickly and seamlessly access the largest insurance coverage in the market today, which is upwards of $500 million per vault.