Galaxy Subsidiary GK8 Launches Tokenization Wizard, Enabling Institutional-Grade Tokenization of Any Asset
Galaxy Subsidiary GK8 Launches Tokenization Wizard, Enabling Institutional-Grade Tokenization of Any Asset
GK8 offers institutions a tool to easily and safely handle the full tokenization lifecycle of any asset
Tel Aviv, Israel—April 3, 2024—GK8, a Galaxy company and leading enterprise-grade blockchain custody and monetization platform, today announced the launch of its Tokenization Wizard, an end-to-end application that paves the way for the future of digital ownership by enabling institutions to seamlessly and securely tokenize assets.
Through its easy-to-navigate interface, GK8’s Tokenization Wizard guides users through the process of securing traditional assets—from real estate and fine art to intellectual property and even everyday objects—in the form of digital tokens. These tokens can then be fractionally owned, traded, and managed on a variety of blockchains.
Tokenization presents vast opportunities for businesses and investors, with some analysts predicting tokenized assets will reach $4 trillion in market value by 2030. However, tokenization also poses security challenges, making issuers vulnerable to cyberattacks. The Tokenization Wizard solves these concerns by leveraging GK8’s multi-tier custody solution, including our Cold Vault technology, the only solution on the market to enable on-chain operations without an internet connection.
"Tokenizing real-world assets is quickly becoming a part of our reality across many industries and governments experimenting with local currency stablecoins, which makes them incredibly appealing for hackers to exploit given the sizable awards attached to these breaches," says Lior Lamesh, Co-Founder and CEO of GK8. "Our Tokenization Wizard, with its user-friendly interface and customizable options, revolutionizes the tokenization process, enabling users to tokenize assets with just a few clicks. Institutions can now leverage this innovative technology to facilitate new revenue streams, enabling them to adopt these new capabilities securely.”
Additional benefits of the Tokenization Wizard include:
True cold security - Utilizing GK8’s Cold Vault enables institutions to issue smart contracts without the administrator's private keys ever going online, ensuring they are out of reach for hackers. Maintaining the security of these private keys is paramount to securing their “superpowers” and admin privileges required for minting, burning,and proxying to other smart contracts, among other privileges.
Secure MPC - The Tokenization Wizard includes secure MPC (multi-party computation), adding varying levels of permissions and approvals for specific users to manage and regulate the ecosystem, including allowlists and blacklists.
All-in-one platform - Beyond tokenization, institutions can use the GK8 platform as a single integrated platform to oversee all digital-asset operations, including custody, staking, deploying assets to DeFi, and more.
Seamless issuance and token tracking - Utilizing the intuitive TokenizationWizard requires no previous knowledge of coding or smart contracts and enables users to manage the full lifecycle of their tokens. The Tokenization Wizard also enables users to transfer ownership, track transactions, and manage whitelists.
Tokenization of any asset - The Tokenization Wizard can create any kind of token, ranging from NFTs and utility tokens to security tokens and real-world assets. GK8 supports thousands of L1 and L2 protocols, including all ERC-20 and EVM-compatible chains.
The first client to utilize the Tokenization Wizard will be a partnership between DWS, one of the world’s leading asset managers, Flow Traders, and Galaxy that intends to create AllUnity, whose mission is to revolutionize the on-chain economy by issuing a fully collateralized EUR-denominated stablecoin.
Institutions interested in exploring the Tokenization Wizard’s functionalities can schedule a custom demo of the application here.
To learn more about tokenization and its impact on the global economy, join GK8’s live webinar featuring Lior Lamesh, Co-founder and CEO at GK8, and Thomas Cowan, VP of Tokenization at Galaxy, to gain insights into "Everything You Wanted to Know About Tokenization (But Were Too Afraid to Ask)." The webinar will take place on April 11 at 9 AM ET.
About GK8
GK8, a Galaxy company, offers both traditional and crypto-native institutions an end-to-end platform for managing and monetizing blockchain assets. The company’s regulation-ready solution features multiple layers of security including the world’s first true Cold Vault, a patented, high-performance MPC vault, both governed by an enterprise-grade, granular policy engine. The company’s Cold Vault is the only solution on the market that enables users to create, sign, and send blockchain transactions without connecting to the internet, eliminating all cyber attack vectors. GK8 customers have access to up to $1 billion in insurance, the highest on the market, making self-custody suitable for institutions and minimizing risk. GK8 clients include renowned financial institutions, banks, and custodians who trust the GK8 platform to manage billions of dollars worth of digital assets. The company’s co-founders Lior Lamesh and Shahar Shamai have been recognized by Forbes, 30 Under 30 list. For more information, visit https://www.gk8.io.
About Galaxy
Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diversified client base, including institutions, startups, and qualified individuals. Since 2018, Galaxy has been building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions. Our offerings include, amongst others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York City, with global offices across North America, Europe, and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com.
Contacts
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Media Relations Contact
Michael Wursthorn
CAUTION ABOUT FORWARD-LOOKING STATEMENTS
This release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). These forward- looking statements relate to the Tokenization Wizard launch and opportunities. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", "seeks" or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. The forward-looking statements contained in this release are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. Forward-looking statements involve known and unknown risks uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. The forward-looking statements are subject to the risks regarding the product and launch. Factors that could cause outcomes to differ materially from those described in such forward-looking statements include, but are not limited to global developments, a delay or failure in the ability to launch and changes in applicable law or regulation. Readers are cautioned that such risk factors, uncertainties and other factors are not exhaustive. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements in this release. The forward-looking statements in this release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward-looking statements.