After establishing ourselves as the leading custody solution for banks and financial institutions looking to expand into digital assets, we are stepping up our game to grant clients new products and features.
Last week, GK8 signed an agreement to be acquired by Celsius, the leading global cryptocurrency earning and borrowing platform, for a total of $115 million. As part of the accord, GK8 will continue to function as a fully-owned independent business and legal entity and retain its current team, tapping Celsius’s advisory and resource support to kick its growth into high gear. GK8 will continue to serve its existing clients and will work to expand its portfolio of services and forge new partnerships, providing its self-managed custodial solution to the leading entities in global finance. It will also develop new features and products, merging its own rich experience with the unique blockchain expertise that Celsius brings to the table.
The company is onboarding Celsius as a client, securing the infrastructure that is powering the vast services ecosystem with its custodial solution, bringing Celsius an unparalleled level of security without compromises on versatility and functionality. With GK8’s compliance-ready solution, Celsius will be able to integrate with DeFi services and stake coins for mining in Proof-of-Stake consensus networks without exposing its assets to a possible attack at any point in the process.
GK8 has already established itself as the leading technology provider for banks and financial institutions looking to grant their clients custodial options for digital assets with the highest possible security. Now, the business enters an exciting new stage, retaining its independence while dramatically expanding its growth.
The capabilities developed by GK8 so far have allowed financial institutions to unlock new revenue streams. With Celsius working as a force multiplier for GK8, the clients of GK8 will now be able to expand their capabilities, delving deeper into the universe of digital assets while enjoying the highest security possible.
GK8 will now expand its existing staff twofold over the coming year, speeding up its research and development capabilities, allowing it to offer clients more features and solutions at a higher speed, adapting to their most urgent needs. The company will also expand its portfolio of services and will join forces with Celsius in outreach to prospective leads, growing at a higher pace.
The announcement follows a highly-successful year for GK8, which saw its client portfolio increase by a whopping 700%. The company has secured partnerships with leading players in the financial and digital asset space, including MasterCard, Securrency, and Prosegur.