INX, a digital asset marketplace that is in the midst of an SEC-registered digital asset offering, has enlisted GK8 for digital asset custody.
As it was recently reported, INX hopes to raise up to $117 million by selling 130 million INX tokens at a per digital asset price of $0.90/each. The public sale is ongoing – it is just not available to investors in all states – just the states where INX has received approval. And investors in these approved states, must adhere to suitability rules – some of which require the individual to be an accredited investor.
Under the agreement with GK8, INX will the platform for managing and safeguarding digital assets. This includes GK8’s “air-gapped vault,” that is designed to create, sign and send blockchain transactions while staying 100% offline – supposedly eliminating any potential attack vector that can be exploited by hackers.
GK8 was founded in 2018 by Lior Lamesh and Shahar Shamai, cybersecurity experts who previously worked together in a classified Israeli cyber unit. The company is serveing banks, exchanges, and custodians that manage over $1 Billion in digital assets, according to a note from the company.
Lamesh, CEO of GK8, said the agreement with INX marks another milestone for GK8’s crypto custody solution into the U.S. market.
“Over the past months we’re seeing a clear shift in the financial sector, with traditional banks looking into offering blockchain-based assets. With 40 million Americans already holding Bitcoin, and the recent OCC ruling that authorized U.S. banks to offer crypto custody, crypto is becoming mainstream. Banks that want to adapt to the digital currency age need to enter this domain within compromising on their security”.
Shy Datika, INX co-founder and President, said that GK8 offers “outstanding security standards will make the adoption of INX easier:”
“[It] is a truly new era for traditional investors and institutions that still didn’t leverage the potential of digital assets. We believe that by introducing ‘Kosher’ digital asset opportunities to the market, we will change the world of trading…”
GK8’s advisory board includes cryptography expert and Zcash founding scientist Prof. Eran Tromer and Ilan Levanon, formerly the head of cybersecurity in an Israeli intelligence unit.
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