Top Crypto News Today: Institutional Asset Management firm GK8 Integrates with Polygon Network

GK8, an institutional-grade asset custody platform that offers DeFi, NFTs and crypto marketplace solutions, has announced its integration with Polygon blockchain – the fastest growing layer 2 blockchain on the Ethereum network. 

Polygon network has recently rolled out their zk roll-up technology that will help developers to interact with the smart contracts easily and ship solutions faster than before. With over 3000+ dApps under development on the Polygon network, it serves a colossal number of Ethereum users. The latest integration will help GK8 users to continue having high-end security for digital assets with Polygon’s cutting-edge scalability. 

.@GK8_Security integrates with #Polygon, allowing customers scalable access to #Web3 at a lower cost without sacrificing security.

GK8 customers can now seamlessly manage and monetize their Polygon and $MATIC holdings directly from GK8’s digital asset custody solution.

[1/5] pic.twitter.com/46lr6yiJqG

— Polygon – MATIC 💜 (@0xPolygon) August 17, 2022

Arjun Kalsy, VP of Growth, Polygon said “We are excited to be integrated into GK8’s infrastructure. This integration gives GK8 customers added agility and the flexibility they need to manage the diversity of their portfolio, all without any additional R&D or integrations. Institutions can now access staking, cold staking and DeFi protocols directly from GK8’s digital asset custody solution. At Polygon we will continue to build our ecosystem and ensure that our builders have access to the best in class infrastructure.”

The crypto market has grown exponentially over the past few years and has created some challenges for the management of virtual digital assets. Today’s institution requires an end-to-end solution that can be relied upon to take advantage of the market contingencies. Additionally, they also require an entrepreneurial-level solution that is proven to take care of digital assets especially incase of a malware attack that can compromise precious digital assets. 

GK8’s regulation-ready solution includes a Cold Vault and an MPC vault. The firm’s cold vault is the only solution built that can send and receive transactions without being connected to the internet. This kind of arrangement will leave no open channels for hackers to attack the network that has all the assets. The cold wallet is paired to their patented Multi-Party Computing wallets that help in automating transactions. 

The platform supports secure tokenization of traditional assets with the security of Ethereum technology.  The firm has designed an arrangement with AON for customers to be able to access insurance of up to $750 million per Vault, the highest in the market as of today. 

Lior Lamesh, CEO and Co-Founder, GK8 commented “We are happy to offer our customers ‘out of the box’ support for the Polygon’s layer-1 protocol, including Polygon’s layer-2 smart contracts, ERC20 tokens on top of Polygon, dApps, DeFi and $MATIC cold staking,”

About GK8 

GK8 is an Institutional-grade Digital Asset Custody Platform and offers cybersecurity to financial institutions with an end-to-end platform for managing blockchain-based assets on their own. The firm has developed the World’s first air-gapped Cold Vault that enables its clients to create, sign, and send secure blockchain transactions without internet connectivity linked to a highly-scalable MPC warm vault for speedy transactions. 

About Polygon Network

Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable solutions for Web3. Its growing suite of products offers developers easy access to major scaling solutions on L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains (Polygon Nightfall), and data availability. Polygon’s scaling solutions have been lauded and adopted by 19,000+ decentralized applications. 

Source: Finextra 

Additional Read: Polygon Whitepaper Summary