Hong Kong-based Hex Trust is pushing the envelope with technological innovation.

Hex Trust provides secure, enterprise-grade and compliant custody solutions for digital assets to institutions. It announced April 1 the integration of its custody solution with R3’s Corda enterprise blockchain.

Institutions can, therefore, entrust any digital assets originated on the Corda platform to the custodian’s blockchain platform. (LedgerInsights)

Hex is the first licensed crypto-asset custodian in Hong Kong to integrate its services with R3’s Corda platform. “A lot of the new demand coming is for Corda-based tokens or other similar blockchain-based protocols,” CEO Alessio Quaglini said.

R3 will make the firm’s custody solution available to its network of business partners.

Asian banks now have another option

R3 clients can, therefore, take advantage of Hex Trust’s custody solutions while Hex Trust clients can take advantage of the Corda blockchain. The latter now becomes another custody provider for R3, in addition to ten others that R3 works with globally.

Any Asian banks looking to issue R3’s Corda-based security tokens can, therefore, access custody issues with Hex Trust.

Though Hex Trust’s custody solutions support mainly cryptocurrencies, this will enhance following the integration with R3. The firm supports digital assets such as Bitcoin, EOS, Bitcoin Cash, Ripple, Z-Cash, Stellar, Ethereum, and ERC-20 tokens as well as several others.

Hex Trust: Seamless access to the best public and private blockchains

“Corda has proven to meet the security, scalability, and support of highly-regulated organizations with complex requirements so we’re delighted to be able to offer support for their digital assets,” said Quaglini. “Our mission is to connect our clients and provide them with seamless access to the best public and private blockchains.”

“As digital assets come increasingly to the fore, we are proud to see our blockchain technology touch all stages of the custody process,” said Cathy Minter, CRO at R3. “Corda’s unique scalability and security attributes make it ideally suited to heavily regulated environments and we wanted a custodian that operated with those same features.”

Related Story:  Digital Assets: solarisBank to Provide Custody Services Through New Subsidiary