Don’t Mitigate Counterparty Risk – Eliminate It!

The emergence of digital assets has unlocked a plethora of possibilities for financial institutions. By incorporating cryptocurrencies into their portfolio, financial institutions can not only profit from offering equivalent services for an advancing asset class, they can also explore and provide a diverse new set of services to drive fresh revenue streams.

That said, digital assets differ from their fiat counterparts, and entering the blockchain arena requires careful consideration, particularly in terms of custody. As many have learned the hard way, digital asset custody is not the same as fiat asset custody, and selecting the appropriate custody solution can be a daunting task. Especially, with the ever-changing regulatory landscape.

Here are six reasons why GK8 is the best choice for securing your digital assets:

1. Eliminate counterparty risk

You, and you alone, have access to your private keys. Once the solution is installed, GK8 has no access to your environment nor to your private keys:

• GK8 does not manage nor have access to your assets
• We spin up a dedicated environment per your requirements
• We have no access to your keys or seed phrases
• We cannot initiate or approve a transaction on your behalf
• We cannot block your access to your funds
• Your transactions are recorded directly in the blockchain without any intervention from GK8
• Your assets are just that – Y-O-U-R-S!

2. No single point of failure

Our patented, three-tiered solution eliminates all potential attack surfaces and prevents any cyber breach or compromise:

• Ours is the world’s first truly Cold vault which can create, sign, and send secure blockchain transactions without internet connectivity
• Our patented MPC enables a virtually unlimited number of automatic co-signers without impacting performance
• Our keyless MPC ensures that related key shares are never gathered during key creation, signing, or adding new users
• For the low-frequency, high-risk transactions we recommend at least one manual co-signer to provide extra security. For high-frequency transactions – our policy engine does the job and ensures your assets are safe.
• The policy engine’s core functionality is safely stored offline, and any change requires a series of predetermined quorum approvals, adding an additional layer of security

3. Ensure business continuity

Our advanced disaster recovery options, ensure that you can always access and manage your digital assets.

• Regenerate your key from anywhere in the world without being dependent on GK8
• Customer-defined policy, no limit to the number of seed phrases
• The process is validated upon installation
• GK8 has no access to seed phrases or key phrases

4. Control everything from anywhere in the world

Our policy engine enables you to manage your crypto as you do your fiat, with the same granularity and workflows.

• Easily define rules and conditions that determine how your policies are applied. Mix and match different roles at the user, region, and account levels
• Configure a list of rules that affect how transactions are handled and approved
• Automate blockchain transactions conducted by your teams worldwide
• Funds cannot be transferred from your wallet(s) without quorum approval
• The policy engine is safely stored offline, and any change to a policy requires a series of predetermined quorum approvals
• Formal auditing and reporting processes with an option of independent balance attestation

5. Regulation ready

Given the changing regulatory landscape, custodians are required to meet a continuously rising bar of mandates:

• Multiple deployment options – on-prem, cloud, or hybrid with a dedicated environment per customer – allow organizations to store their private keys in a compliant way
• Integrated AML/KYC
• Independent proof of reserves and balance attestation is available on demand

6. Built to stand the test of time

At GK8, we understand the challenges and have developed a flexible crypto self-custody solution tailored to the needs of large financial institutions.

• The benefits of a regulation-ready, holistic solution that incorporates a cold vault, a hot wallet, and a policy engine
• ‘Out-of-the-box’ support for EVMs, ERC standards, and smart contracts, adding support for additional currencies and protocols requires no development
• Access to the highest insurance in the market, up to $1B per vault

It is crucial to choose a versatile and customizable custody solution that can accommodate changing requirements while providing self-service options that not only mitigate but eliminate counterparty risk completely. 

At GK8, we understand the challenges and have developed a flexible crypto self-custody solution tailored to the needs of large financial institutions, enabling them to manage their digital assets as they would their fiat. Ultimately, our goal is to ensure that you, and you alone, are firmly in control of your assets.

Contact us to learn more.

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