Blockchain cybersecurity firm GK8 will provide custody and token services to the Stellar Lumen network, a move that could spark institutional interest in XLM tokens.
By merging with Stellar, the company announced Monday that GK8 clients can access XLM investments in the custody environment, opening the door to offline transactions. digital currency.
GK8 says, according to CoinTelegraph, that its infrastructure eliminates the risk of cyberattacks while providing scalable high-frequency transactions.
The partnership enables institutional investors in Stellar to generate new revenue streams, digitize assets, trade and convert currency at Send it.
Stellar operates as a blockchain-based payment network that initially abandoned the Ripple protocol in 2014. The total market capitalization of XLM tokens is $9.8 billion, which places it at number 22 on the list of active crypto projects. The token gained 23% over the week, according to CoinMarketCap.
GK8 has secured several high-profile partnerships over the past year as it continues to expand its enterprise blockchain infrastructure.
As Coin Telegraph reported last August, State Street-backed Securency has partnered with GK8 to expand its token infrastructure.
GK8 has also partnered with MasterCard in its Startup Bath program.
