The Israeli crypto startup GK8 to store crypto for INX exchange
The digital asset custody provider GK8 has been opted by INX to store the crypto for them.
INX which is the first crypto firm to have a first-ever token initial public offering approved through a tweet that they will employ GK8 end-to-end platform to protect and deal with the digital assets.
It’s interesting to know that GK8’s platform includes a patented air-gapped vault that is capable of creating, signing, and transferring blockchain transactions while, according to INX, it’s totally and 100% offline.
INX is planning to collect $117 million from its current token called IPO. As of September 10th, once $7.5 million was raised, INX started accepting cryptocurrencies like Bitcoin, USDC coin, and Ethereum. And once the funds are raised, INX will set up a multiservice digital asset platform plus a cash reserve fund.
The founders of GK8 are two former Cybersecurity experts called Lior Lamesh and Shahar Shamai who used to work as colleagues for an Israeli cyber unit. It’s claimed that more than 1 billion dollars of digital assets is kept there for some banks and exchanges. Among its customers are famous companies like eToro which is a social investment giant.
GK8 brags about its technology and claims that no cold wallet is truly cold if they need an internet connection to carry out a transaction on a blockchain which shows their power.
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