G-Knot is preparing to launch a flagship crypto wallet that uses finger vein biometrics for authentication, a move the company says could eliminate the need for recovery phrases and private keys.
The New York-based firm claims the product will be the first crypto wallet to use finger vein identification, a biometric technique that maps the unique pattern of veins beneath a user’s skin, to improve security as well as reduce the risk of fraud and loss.
The company is positioning the technology as a solution to long-standing security challenges in self-custody, as losses from crypto-related hacks continue to rise. In just the first half of 2025, crypto-related hacks have resulted in over $2.5billion in losses, according to data from CertiK. Notable breaches include Phemex, which lost $85million to a hot wallet exploit and UPCX, which lost $70million due to a compromised private key.
To lead the commercial rollout, G-Knot has appointed Wes Kaplan as CEO. Kaplan brings experience from across fintech and digital assets, including roles at Cointelegraph, AscendEX and Tradewind Markets. He most recently served as CEO of Cointelegraph.
“G-Knot is poised to redefine security in the digital age, and I am thrilled to lead this mission,” said Kaplan. “We are entering the market to solve the security challenges plaguing the cryptocurrency space. By replacing the need for recovery phrases with users’ unique biometric authentication, we’re not only solving today’s issues but also paving the way for broader applications in decentralised finance and identity management.”
Product range
G-Knot holds the exclusive global licence to commercialise the biometric platform developed by its parent company eTunnel, a Seoul-based biometrics R&D firm. The United Nations’ ITU also selected the technology in 2024 for deployment in biometric smart cards across UN organisations.
The company plans to launch the crypto wallet as the first in a wider suite of products built on eTunnel’s technology. It is targeting both retail and enterprise users with future applications in digital identity as well as decentralised infrastructure.
“Kaplan’s proven track record in scaling innovative financial tech makes him the ideal leader to bring eTunnel’s technology to market,” said Youngkuk Kim, CEO of eTunnel.
He also added: “As eTunnel continues to advance biometric research, G-Knot, under Wes’s leadership, will leverage the gold standard of biometric technology to deliver enterprise-grade and consumer-focused products that address the growing security needs of an increasingly digital world.”
Source: https://thefintechtimes.com/
