TL;DR Breakdown
- GK8 adds new features to its self-managed custodial platform.
- The new features bring banks and financial institutions more versatility with instant access to EVM-compatible blockchains and their DeFi services.
GK8, a leading self-managed crypto custody solution with cold and MPC vaults, DeFi, and staking support, has launched a host of new features coming to its platform with the latest update.
In a press release by the blockchain cybersecurity company, it announced that clients managing digital assets with GK8’s solution can now instantly integrate their operations with any existing or future layer-1 blockchains compatible with the Ethereum Virtual Machine (EVM) with no additional research and development needed.
GK8 noted that with another new feature added to the platform, its clients can access any smart contracts on supported blockchains and integrate any tokens based on ERC20 standard on any EVM-compatible chain without the need for developing contract- or token-specific patches.
GK8 enables its clients to integrate their custodial services with any EVM-compatible blockchains with no additional development and coding needed.
The general EVM support allows the user to set up a network node within seconds for any present or future EVM-compatible layer-1 blockchain. The solution’s capabilities extend beyond basic transactions, enabling the user to access DeFi smart contracts and use GK8’s unique cold staking feature for native staking on proof-of-stake blockchains.
Primarily, it affords clients the flexibility they need to keep up with the fast-moving blockchain space, connecting with new chains and DeFi services through zero time-to-market integrations without wasting months on protocol-specific updates.
GK8 expands blockchain support stack, adds Cardano, Tezos
In its announcement, the security firm announced the expansion of its stack of supported blockchains, adding integrations with Cardano and Tezos.
The two popular blockchains based on proof-of-stake consensus are seen as a more eco-friendly alternative to Bitcoin and Ethereum’s proof-of-work.
The integration includes full node support, access to native staking, which allows the user to gain rewards by enabling the network’s operations, and smart contract support for DeFi. For staking, GK8’s clients can use its unique cold staking functionality, which allows them to lock their digital assets into the select smart contract without having to remove them from the Cold Vault.
Lior Lamesh, CEO and Co-Founder of GK8, describes EVM as a breakthrough infrastructure protocol shaping up to be the software backbone for the future of finance.
