1 year ago
72 GK8 has updated its policy engine that empowers organizations to further adapt and customize the GK8 platform workflows to their own business logic.
GK8 is a Tel Aviv-headquartered institutional-grade digital asset custody platform with DeFi, staking, NFT, trading, and tokenization support.
“Institutional market is increasingly turning to self custody”
The updated policy engine allows institutions to tailor approval policies for every institutional workflow and procedure, and configure a list of rules that affect how transactions are handled and approved. The engine now allows institutions to control their digital assets as they would their fiat. The GK8 policy engine provides crucial granularity for large, global institutions.
It combines best-in-class policy management technology with workflow automation enabling financial institutions to customize their crypto workflows and meet the rapidly growing demand for self-custody. The policy engine is stored offline, adding another layer of security, aligned with GK8’s institutional-grade standard. GK8’s regulation-ready solution includes the world’s first true air-gapped Cold Vault insured by up to $1 billion as well as a scalable MPC hot vault.
Lior Lamesh, CEO and Co-Founder of GK8, said: “The importance of a policy engine for custody solutions can’t be overstated because a strong policy engine allows you to tailor approval policies and configure a list of rules affecting how transactions are handled. As the institutional market is increasingly turning to self custody, our policy engine empowers them to automate transactions, approvals, and even crucial workflows, while providing the highest degree of security, consistency, governance and control.”
GK8’s policy engine is stored offline for security purposes
The updated policy engine for GK8’s digital asset custody platform enables financial institutions to set their rules and policies on their own, at any level they wish while retaining complete control of their private keys. The policy engine is safely stored offline, and any change to a policy requires a series of predetermined quorum approvals, providing yet another layer of security.
By customizing the policy engine to match business logic, institutions can ensure that workflows are able to support and enhance the organization’s decision-making processes, and help achieve its business goals.
The company’s Cold Vault can create, sign, and send blockchain transactions without receiving input from the internet, which grants institutions an unparalleled level of cyber security, leaving no openings for hackers to exploit. It is paired with a patented high-performance MPC wallet used for high-frequency automatic transactions.
GK8 also supports the secure tokenization of traditional assets, features general support of all Ethereum Virtual Machine-compatible layer-1 blockchains, and grants users instant access to all layer-2 smart contracts on supported chains.
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