GK8 partners with Bitbond to offer institutional customers an end-to-end token life cycle management solution

The partnership enables the issuance, management, distribution, and custody all in one secure and intuitive solution

GK8, the leading institutional-grade digital asset custody platform with DeFi, staking, NFT, and tokenization support, partners with Bitbond, the leading tokenization software provider, to offer clients an end-to-end token life cycle solution. The joint solution provides a one-stop shop where clients can securely issue, mint, burn, manage, store, and distribute, with an intuitive user interface. Moreover, customers can benefit from utilizing a tool that has already issued regulated and compliant tokens by the German regulator BaFin.  

Financial institutions are seeing a marked increase in the market opportunities for tokenization. The potential of tokenization is virtually limitless and includes security tokens (e.g equities, bonds, etc.), utility tokens, and other assets such as collectibles, real estate, documentation, etc. It is estimated that less than 1% of global wealth has been digitized to date. In the coming years, trillions of dollars worth of bonds, stocks, and other assets will be tokenized over the blockchain thanks to the advantages of this advanced data structure technology.

As cryptocurrency adoption grows, hackers are increasingly focused on this market. A case in point is the NFT market, which has taken off alongside cybercrime in this novel space. In the case of tokenization, cybercrime has some particularly painful consequences. Once hackers have control of the token issuer’s private keys (aka admin key/smart contract owner key), they can funnel said tokens directly into their own accounts. Moreover, they can control minting and burning, leading to the loss of the whole collection or worse. The increased sophistication of hackers suggests that institutions need an enterprise-grade custody solution to manage their private keys. 

Together, GK8 and Bitbond have partnered to provide customers with a true end-to-end token issuance and management solution. Any token can be created, managed, and distributed. All of this including minting and burning can be securely done through the GK8 Cold Vault which eliminates all cyber security attack vectors. GK8 and Bitbond’s joint solution brings together functionality, scalability, and security with an end-to-end, token life cycle management solution. 

“It’s a pleasure to collaborate with GK8 on this initiative,” says Radoslav Albrecht, Founder & CEO of Bitbond. “We, at Bitbond, believe that everything that can be tokenized will be in the future. This is the time to invest in a secure solution for the custody and safekeeping of digital assets. GK8 not only offers one of the most secure custody solutions for digital assets, its platform has proven to give financial institutions the best solution to manage and monetize all their digital assets. GK8 is  expanding those services even further by leveraging our tokenization software.”

Token Tool by Bitbond lets users simply and easily create tokens on Ethereum, Polygon, Avalanche and Binance Smart Chain without having to code their own smart contracts. Token Tool makes tokenization accessible via a convenient Web3 token generator app. Users can create ERC20/ERC1400 tokens, distribute tokens, mint NFTs, and create token sales.

“Tokenization is taking the world by storm, however up until now, institutions have had to rely on multiple systems to issue, manage, and take custody of their tokens and keys,” says Lior Lamesh, CEO and Co-Founder of GK8. “Not enough attention is paid to the custody and safekeeping of the institutions’ private keys which can endanger the assets. This understanding has led to our collaboration with Bitbond, to bring a holistic, intuitive solution to the market. We are proud to partner with Bitbond, the leading tokenization technology for regulated financial institutions and large issuers.”

GK8’s regulation-ready solution includes both a Cold Vault as well as an MPC vault. The company’s unique Cold Vault is the only solution on the market that can create, sign, and send blockchain transactions without being connected to the internet which grants institutions an unparalleled level of security, leaving no openings for hackers to exploit. This Cold Vault is paired with a patented, high-performance MPC wallet used for high-frequency automatic transactions. The company has an arrangement with AON for customers to quickly and seamlessly access insurance of up to $750 million per Vault, the highest available on the market today.   

About Bitbond:

Bitbond is a Berlin-based financial technology company with a focus on asset tokenization technology and digital assets. Bitbond provides its leading tokenization product Token Tool to several of the largest banks globally for the purpose of securities and financial assets tokenization. Moreover, multiple companies have launched NFT offerings with Bitbond technology. Bitbond conducted the first Security Token Offering (STO) in Germany with a securities prospectus approved by BaFin in 2019. For more information, visit www.bitbond.com