Blockchain cybersecurity company GK8 will be offering custody and tokenization services to the Stellar network, a move that could spark institutional interest in the Stellar Lumen (XLM) token.
By integrating with Stellar, customers of GK8 can access XLM investments in a custodial setting, opening the door to offline transactions of the digital currency, the company announced Monday. GK8 has said that its infrastructure eliminates the risk of cyberattacks while also providing scalable, high-frequency transactions.
GK8 co-founder and CEO Lior Lamesh said the partnership enables XLM’s institutional investors to “generate new revenue streams, digitize assets, trade, and transform currency as it’s sent.”
Stellar operates as a blockchain-based payment network that initially forked away from the XRP protocol in 2014. XLM has a total market capitalization of $9.8 billion, placing it 22nd among active crypto projects. The token has gained 23% over the week, according to CoinMarketCap.
GK8 has secured several high-profile partnerships over the past year as it continues to expand institutional