GK8, the leading institutional-grade self-managed digital asset custody platform, announces its integration with NEAR Protocol, a leading next-generation blockchain ecosystem. The integration allows GK8 users to enter NEAR’s bustling Web3 network, deploying decentralized solutions and services from their custodial platforms.
Bitcoin, the world’s first and largest market cap blockchain, was built as a decentralized ledger, a database meant first and foremost for transaction data. Ethereum pushed the concept further by introducing smart contracts, decentralized applications stored on-chain as executable code, which enabled the rise of decentralized finance services. NEAR Protocol is the next-generation, fast, and high-throughput infrastructure for decentralized ecosystems, where any data asset can be programmable and creators can use a robust development toolset to create the open economy of the future.
With the latest update, GK8 integrates its regulation-ready self-custody platform with the NEAR Protocol ecosystem. With the integration, GK8 users will be able to access the smart contracts built on the NEAR blockchain from their custodial platforms and build decentralized applications of any complexity to run in its network.
The integration expands the versatility of GK8’s platform, which includes the only true Cold Vault in the market as well as a high-scalability MPC wallet for high-frequency transactions, granting its users access to its vast and versatile network. It enables traditional financial institutions and crypto-native companies and organizations using GK8’s platform to build their own applications and services on the NEAR platform, making use of its advanced programmability features to turn any business logic into executable code while operating with the highest possible security.
Besides NEAR, GK8’s solution also features general support for all Ethereum Virtual Machine-compatible layer-1 blockchains and instant access to all layer-2 smart contracts on supported chains. The platform has an arrangement with AON for customers to quickly and seamlessly access insurance of up to $750 million per Vault, the largest in the market today. It supports the tokenization of traditional assets and offers its users a military-grade level of security at no detriment to its functionality.
“The future of finance lies on-chain, powered by decentralized networks like NEAR Protocol,” says Lior Lamesh, CEO and Co-Founder of GK8. “We are thrilled to be bringing our users into the fast-moving NEAR ecosystem, giving them access to one of the most innovative technological platforms in the field.”
“Security is one of the key conditions for long-term growth of the blockchain space,” says Marieke Flament, CEO of the NEAR Foundation, which oversees development on the NEAR protocol. “GK8’s solution offers all NEAR ecosystem participants a secure and reliable infrastructure to power their innovations and to help bring Web3 to mass adoption.”
About NEAR Protocol:
NEAR Protocol is a leading public layer-1 blockchain working as a platform for a wide array of decentralized applications, including games, financial services, and Decentralized Autonomous organizations. Operating on a unique Proof-of-Stake consensus mechanism called Doomslug, the network offers its users lower transaction fees and higher throughput than Ethereum.
NEAR core contributors have won multiple world championships in competitive programming and worked at major tech companies such as Google, Facebook and Niantic. To learn more about the NEAR Protocol, please visit https://near.org, and for the press kit visit https://near.org/press.