Galaxy Digital Purchases Crypto Custodian GK8

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Crypto bank Galaxy Digital has won an auction whose financial terms have not been disclosed to buy custodial platform GK8 from bankrupt Celsius Network.

Galaxy co-president Chris Ferraro has said the company has paid less than the $115 million Celsius paid for its acquisition in 2021.

The startup describes itself as a cold storage solution for financial institutions, supporting various cryptocurrencies, decentralized applications and staking.

GK8 technologies will be integrated into the GalaxyOne service and is supposed to provide institutional investors with a combination of trading, lending, asset management in a single solution.

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