INX, a cryptocurrency agency holding the first-ever token preliminary public providing, or IPO, accepted by the Securities and Trade Fee, or SEC, has chosen a digital asset custody supplier.

In keeping with a Sept. 16 announcement, INX has enlisted Israeli crypto startup GK8 for digital asset custody on its upcoming crypto trade.

INX tweeted that the platform will use GK8’s end-to-end platform for managing and safeguarding digital belongings. The platform consists of GK8’s patented “air-gapped vault that may create, signal, and ship blockchain transactions whereas staying 100% offline,” INX famous.

Based mostly in Gibraltar, INX is planning to boost $117 million from its ongoing safety token IPO focusing on each retail and institutional traders.

After elevating $7.5 million as of Sept. 10, INX’s started accepting cryptocurrencies like Bitcoin (BTC), Ether (ETH), and USD Coin (USDC) on Sept. 14. With the raised funds, INX intends to arrange a multiservice digital asset platform in addition to a money reserve fund.

GK8 was based in 2018 by Lior Lamesh and Shahar Shamai, cybersecurity consultants who beforehand labored collectively in a categorised Israeli cyber unit. The startup is said to be managing over $1 billion in digital belongings for world banks, exchanges, and custodians. eToro, an Israeli social funding large, turned one of many firm’s first clients in 2019, Lamesh informed Cointelegraph.

The Israeli crypto custody supplier is understood for its extremely provocative stance on the crypto wallets business. GK8 claims to have the ability to retailer and transact crypto with none connection to the web. In July 2020, GK8 posted an article that claims that “no chilly pockets is de facto chilly if it requires web connection to run a blockchain transaction.”