Galaxy Digital has acquired crypto custody company GK8 for $44M.
Galaxy Digital won the auction to buy the company from Celsius Network.
GK8 has a patented cold cryptocurrency storage technology that aims to make cryptocurrency ownership safer by enabling accounts to sign blockchain contracts without an internet connection.
- The product will be integrated with GalaxyOne, a crypto trading, lending, and margining platform.
- GK8 was previously owned by Celsius Network, a crypto lender that went bankrupt in 2022.
- The company has 40 employees.
- GK8 is based in Tel Aviv, Israel. Galaxy Digital is also going to open an office in the city.
