INX Limited, the digital assets trading platform which recently initiated world’s first SEC registered token public offering, has selected GK8’s offline custody solution to manage and secure the digital assets on INX’s trading platform.
INX is a regulated trading marketplace for cryptocurrency, security tokens and blockchain assets. Under the agreement, INX will use GK8’s end-to-end platform for managing and safeguarding digital assets. The platform includes GK8’s patented air-gapped vault, that can create, sign and send blockchain transactions while staying 100% offline – hence eliminating any potential attack vector that can be exploited by hackers.
INX is registered with the US Securities and Exchange Commission (SEC) for an initial public offering of the INX Token, as part of the capital raise for the commercial launch of a blockchain trading exchange. INX’s move is part of a growing trend by financial institutions that intend to provide crypto-related services under strict watchdog scrutiny. These institutions are expected to boost the demand for highly reliable solutions for managing and protecting their digital assets, such as GK8’s offline crypto custody solution.
GK8 was founded in 2018 by Lior Lamesh and Shahar Shamai, cyber security experts who previously worked together in a classified Israeli cyber unit that reported directly to the Prime Minister’s office. The company serves banks, exchanges and custodians that manage over $1 Billion in digital assets. 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.
Shy Datika, INX Co-Founder and President, stated: “Our offer 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. Using GK8’s outstanding security standards will make the adoption of INX easier”.
Lior Lamesh, CEO and co-founder of GK8, added: “The agreement with INX marks another milestone in the penetration of GK8’s robust 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”.