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NEW YORK - GK8 by Galaxy announced Thursday it has expanded its institutional-grade digital asset custody platform to include the Solana blockchain, allowing financial institutions and crypto funds to securely interact with Solana-based decentralized finance protocols.
The expansion enables clients to access Solana DeFi applications such as Orca, Radium and Jupiter using the same secure infrastructure already utilized for Ethereum Virtual Machine-compatible chains.
Users can transact directly with Solana protocols via MetaMask and WalletConnect while maintaining control through GK8’s Unlimited Multi-Party Computation (uMPC) wallets. The system enforces governance policies including transaction-based permissions and multi-step approvals.
"Crypto funds are diving deeper into DeFi — not just for yield, but as part of their core trading and investment operations," said Lior Lamesh, Co-Founder & CEO at GK8 by Galaxy.
The platform routes all DeFi activity through its proprietary uMPC framework, which the company claims can achieve up to 7,500 signatures per second. This approach aims to provide institutional-grade security while allowing clients to initiate trades, swaps, and liquidity activities directly from GK8-managed accounts.
GK8, which is owned by Galaxy (NASDAQ:GLXY), provides self-custody technology for digital assets that serves both traditional financial institutions and crypto-native companies. Galaxy, with a market capitalization of $10.8 billion, has seen remarkable growth with a 141% return over the past year. According to InvestingPro analysis, the stock currently trades at $28.90 with a P/E ratio of 35.3.
The announcement comes as more institutional investors seek access to Solana’s ecosystem, known for its high-speed and low-cost transactions, according to the company’s press release statement. With Galaxy’s earnings report due in 13 days, InvestingPro subscribers can access exclusive insights, including 16 additional ProTips and comprehensive financial metrics that help navigate the stock’s high volatility (Beta 4.34).
In other recent news, Galaxy Digital has been involved in several significant developments. The company executed a landmark transaction, selling over 80,000 bitcoin valued at more than $9 billion for a client described as a "Satoshi-era investor." This transaction is one of the largest in cryptocurrency history and was part of the investor’s estate planning strategy. Additionally, Galaxy Digital announced the appointment of Doug Deason to its board of directors, expanding the board from six to seven members. Deason will also join the Nominating and Corporate Governance Committee.
In terms of analyst coverage, Galaxy Digital received a Neutral rating from Goldman Sachs, which set a price target of $30.00, noting the company’s transition from a digital assets investment bank to a provider of AI data center infrastructure. Meanwhile, Jefferies initiated coverage with a Buy rating and a $35.00 price target, citing Galaxy Digital’s potential to benefit from regulatory improvements in cryptocurrency and the rising demand for AI data centers. These recent developments highlight the company’s evolving business strategy and its positioning within the digital assets and AI sectors.
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