The Celsius Network crypto-lending platform has acquired GK8, a startup specialising in custodial services. The development was announced on the company’s website.
GK8 is positioned as a cold-storage platform for financial institutions, supporting a range of crypto assets, decentralised applications and staking.
The Israeli startup’s founders—Lior Lamesh and Shahar Shama’i—previously worked as cybersecurity experts at the Prime Minister’s Office of Israel.
The deal was worth $115 million.
Earlier in October, Celsius Network attracted $400 million. Following the round, the company’s valuation exceeded $3 billion.
The financing round took place amid accusations in the US that the platform sold unregistered securities. The company faced complaints from regulators in the states Texas, New Jersey, Alabama and Kentucky.
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