GK8 a cybersecurity company offering custodian technology for managing and safeguarding digital assets, announced this week 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 networks.
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 Group on the Hedera Governing Council, Hedera Hashgraph aims to set the next standard for the global token economy. GK8’s compliance and a governance-ready solution will work to protect the assets of Hedera’s enterprise users.
The GK8 Cold Vault 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 allows GK8 customers to access insurance coverage of 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 innovative crypto solutions. GK8’s portfolio of clients grew 400% in 2020, and currently serves clients who ma...