GK8, an enterprise-grade digital asset custody solution provider owned by Mark Novogratz-led Galaxy Digital, has launched Tokenization Wizard, which helps financial institutions tokenize real-world assets, a GK8 press statement said.
GK8’s Tokenization Wizard simplifies securing traditional assets into digital tokens, such as real estate, fine art, intellectual property, and everyday objects. With its user-friendly interface, the Wizard guides users step-by-step, allowing them to fractionalize ownership, trade, and manage these assets across various blockchains with ease.
“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,” Lior Lamesh, Co-Founder and CEO of GK8 stated.
GK8 offers self-custody of tokens, which can be securely kept with its patented cold storage and MPC Technology. Its self-custody cold storage solution facilitates the creation, signing, and sending of blockchain messages without the use of internet connectivity. This custody security mechanism is further strengthened with multiparty computation.
“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,” said Lamesh.
Combined with other custody solutions provided by GK8, plug-and-play can be used by financial institutions for a variety of services, including DeFi and staking, wallet and key management, token creation, and payments.
A collaboration between asset manager DWS, Flow Traders, and Galaxy will be the first to use GK8’s Tokenization Wizard for their fully collateralized euro-denominated stablecoin.
