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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 ”
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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
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