GK8 gives institutions fiat-level control over digital assets

As market embraces self custody, GK8’s updated policy engine gives institutions fiat-level control over digital assets

The updated GK8 policy engine combines best-in-class policy management technology with workflow automation enabling large financial institutions to customize their crypto workflows and meet the rapidly growing demand for self custody.

GK8, the leading institutional-grade digital asset custody platform with DeFi, staking, NFT, trading, and tokenization support, unveils an updated policy engine that empowers organizations to further adapt and customize the GK8 platform workflows to their own business logic. 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. In fact, the policy engine allows institutions to control their digital assets as they would their fiat. The GK8 policy engine provides crucial granularity for large, global institutions.

Implementing new systems and adapting their functionality to internal policies and business logic is not a simple process for large financial institutions. It often requires significant time and resources and can be restricted by system functionalities. In addition, most custody solution policy engines lack the flexibility and granularity needed – making it particularly difficult to ensure that these align with the organizations’ business logic, are transparent and consistent, and meet regulatory or compliance requirements. Moreover, given the changing regulatory landscape, it is ever more important for institutions to be able to make changes and adaptations to their workflows.

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.

GK8’s regulation-ready solution includes both an unhackable Cold Vault as well as a patented MPC vault. The company’s unique Cold Vault, which features an insurance policy of up to $1 billion, is the only solution on the market that 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.

The Cold Vault 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.

“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,” says Lior Lamesh, CEO and Co-Founder of GK8. “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 ”