Digital Assets: Hex Trust Integrates Custody Services With R3’s Corda Blockchain

April 7, 2020 | Digital Assets

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                                                 

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…