Israeli-based cybersecurity outfit, GK8 has inked a mutually beneficial partnership with the Stellar Foundation to integrate the blockchain network’s native token, the Stellar Lumen (XLM) into its custody solutions. As announced by the firm, the integration of Stellar draws on the decentralized nature of the blockchain, as well as its speed, scalability, and its uniquely sustainable network for financial products and services.
The partnership brings GK8’s proprietary end-to-end custody solution which will allow users of the Stellar network, particularly institutional investors to transact or authorize transactions without requiring internet connectivity. The custody solution has removed all loopholes that will predispose it to cyber attacks. Additionally, transactions that will be initiated will be subject to higher scalability alongside enabling high transaction frequencies.
GK8 clients and users will have easy access to digital assets in the most secure, compliant, and performant manner.
Making Blockchain Multifunctional to Drive Adoption
There are a number of blockchain-based infrastructure service providers working to create new and simple solutions aimed at driving the journey toward mainstream adoption of a wide array of cryptocurrencies. While many are focused on the largest digital assets including Bitcoin (BTC), and Ethereum (ETH), startups like GK8 are reshaping the outlook of other altcoins.
With the Stellar-GK8 partnership, a number of the latter firm’s clients base, which grew by 400%, will now have access to interact or conduct transactions on the Stellar blockchain.
“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.”
Amongst the firms on the GK8’s list that will find the new partnership valuable include a social trading platform, eToro, AON UK, and Prosegur, one of the world’s largest custodians with more than $400 billion assets under management.
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