Hedera Hashgraph, an enterprise-grade blockchain platform, has announced a partnership with Onchain to provide custody services in Asia. Onchain will be providing custody for Hedera’s native digital asset HBAR.
Holders of HBAR will have the option to secure their HBAR tokens with Onchain’s SAFE digital asset custody platform, which is insured through Lockton and compliant with Singapore’s regulatory regime.
Onchain as the only Singapore-based digital asset custodian offering services to funds, family offices, and high-net-worth-individuals looking to diversify into alternative investments such as cryptocurrencies. Backed by DHVC, Fosun, and Sequoia Capital, Onchain is also used by blockchain organizations NEO, Ontology, and Zilliqa to manage their foundation’s treasury.
Jordan Fried, SVP of Business Development for Hedera, explained that many of their holders are based in Asia:
“We are working with Onchain because they provide the level of service and security our token holders expect.”
Alexandre Kech, CEO of Onchain, said they are now seeing more sophisticated investors seeking a secure method to manage their digital assets:
“This represents a maturation of the industry as crypto becomes increasingly attractive to the traditional sector.”
Pablo Peillard, co-founder of Hashing Systems, the largest community of Hashgraph developers, said they are demonstrating their commitment to their clients and the enterprise ethos by securing HBAR reserves with Onchain Custodian.
Hedera is one a few DLTs offering a scalable solution that can support enterprise transactions today and in the future. Some of the most popular versions of blockchain struggle to keep pace with real-world demands.