Mastercard’s new program is dedicated to supporting crypto, blockchain, and digital assets companies around the world
GK8, a cybersecurity company that offers enterprise-grade custodian technology for managing and safeguarding digital assets, was selected to join the new Mastercard Start Path global crypto, digital assets, and blockchain engagement program. GK8 was chosen among select startups globally to support Mastercard’s efforts to offer crypto services, encourage crypto innovation and make it easier for people and institutions to buy, spend, and hold cryptocurrencies and digital assets.
Mastercard has been an early adopter of digital currency, engaging with the crypto ecosystem since 2015. Through the Start Path program, Mastercard aims to address a host of pain points that impact GK8 to help continue the development and financial growth of cryptocurrency and digital assets.
GK8 was founded by veterans of Israeli elite cybersecurity units tasked with protecting the country’s strategic assets from state-sponsored hackers, reporting directly to the Prime Minister’s Office. GK8’s proprietary end-to-end custodial solution, designed for banks and other financial institutions, has the capabilities set to power Mastercard and other partners’ infrastructure for crypto services enabling its clients to buy, spend and hold cryptocurrencies and digital assets. GK8’s compliance-ready platform brings both Cold Vault and MPC for high-frequency trading capabilities that keep up with the speed of finance and business, as well as custody, staking, DeFi, and tokenization services.
GK8’s portfolio of clients grew 400% in 2020, and in H1 2021 already surpassed 2020’s record of sales, currently serving clients who manage digital assets worth billions of dollars. Some of those clients include eToro, currently at $10B market value, trading platform INX which has raised $125 million in a security token and equity offering, and Prosegur, one of the world’s largest custodians with €400 Billion under its management.
Raj Dhamodharan, executive vice president of Digital Assets and Blockchain Products and Partnerships at Mastercard commented: “As a leading technology player, we believe Mastercard can play a key role in shaping the future of digital assets and providing consumer protections and security. We’re thrilled to support GK8 and the larger fintech community to grow and scale digital asset programs and platforms in an ever-changing industry.”
“We are excited and proud to be included among the very few select blockchain companies, working with Mastercard, to envision the infrastructure for a crypto future,” says Lior Lamesh, CEO and Co-Founder of GK8. “The world of digital finance is evolving quickly and GK8 is well-positioned to be at the forefront of that innovation. With the support of Mastercard, we are convinced that banks and financial institutions around the world will easily and seamlessly be able to integrate digital currency services for their clients with the maximum level of security with the fast-paced nature of trade.”