Hex Trust has become the first licensed digital asset custodian in Hong Kong to integrate with R3’s Corda platform, enabling the blockchain ledger into Hex Trust’s digital asset custody solution. R3 has also made Hex Trust’s custody solution available to their network of partners.
The integration will allow banks, financial institutions, and institutional clients of Hex Trust to safely and securely hold tokens built on Corda within Hex Trust’s proprietary custody platform. The ‘Hex Safe’ custody solution offers market-leading security, enhanced by their recent business partnership and integration with IBM LinuxONE. Digital assets on Hex Trust’s platform also have insurance coverage which has been arranged by AON.
The Corda platform is a blockchain platform that enables businesses to transact directly and in strict privacy using smart contracts, reducing transaction and record-keeping costs and streamlining business operations. R3 delivers two interoperable and fully compatible distributions of the platform – Corda open-source, and Corda Enterprise, a commercial version for enterprise usage. Cathy Minter, CRO at R3, said, “As digital assets come increasingly to the fore, we are proud to see our blockchain technology touch all stages of the custody process. 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. We have found that in Hex Trust and its commitment to the end-to-end safekeeping of digital assets. It is an exciting time in the digital assets space, and we look forward to helping shape progress in the space, alongside partners such as Hex Trust.”
Alessio Quaglini, CEO at Hex Trust, added, “Hex Trust is proud to become the first custodian to integrate with R3’s Corda. 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. To join R3’s ecosystem and become a digital asset custody provider is a great honour for Hex Trust and is a testament to our team’s intense focus on providing the most compliant and enterprise-grade solutions for institutional clients worldwide. Our mission is to connect our clients and provide them with seamless access to the best public and private blockchains. With this in mind, the integration with Corda is another great step for Hex Trust.”