A new partnership between Hex Trust and Hedera Hashgraph will aim to provide banks, financial institutions, and institutional investors with a safe, and compliant way to integrate HTS-based tokens into the operations of their digital assets.
Hex Trust will be using the Hedera Token Service for native token issuance, management, and transfer. Tokens deployed through the HTS benefit from the same performance as Hedera Hashgraph’s native HBAR token.
Hedera is an enterprise-grade public blockchain network that is governed by a council of the top organizations, including Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, and many more.
Hex Trust is a registered Trust Company under the Hong Kong Trust Ordinance and holds a Trust or Company Service Provider (TCSP) licence under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance providing digital asset custody solutions. Hex Trust has also been appointed as a strategic custodian of TOKO (a wholly-owned subsidiary of DLA Piper), delivered in collaboration with DLA Piper, a Hedera Governing Council member.
Mance Harmon, CEO and co-founder, Hedera, commented on the new partnership:
“With its focus on the highest security standards and enterprise-grade workflows, and rigorous approach to compliance, Hex Trust has established itself as a leading, bank-grade, Asian digital asset custodian. Given TOKO’s traction in the asset tokenization market, we are excited to see Hex Trust appointed as an official custodian of TOKO, as a next step in the evolution of the growing digital assets ecosystem being built on the Hedera network.”
Alessio Quaglini, CEO and co-founder, Hex Trust, said that Hedera has their full support as one of the most promising next-generation blockchain platforms:
“With this collaboration, Hex Trust facilitates the expansion of the enterprise-grade protocol by providing banks, financial institutions, and institutional investors a safe, secure, and compliant way to integrate HTS-based tokens into their digital assets operations. Working closely with TOKO (a wholly-owned subsidiary of DLA Piper) as a strategic custodian further demonstrates our commitment to implementing robust compliance standards and protecting investor interests.”
Scott Thiel, Technology partner at DLA Piper and the leading lawyer for TOKO will allow them to deliver more complex projects and to support asset-backed token issuances using either regulated or unregulated tokens and legal structures.
“The vertical integration of the Hedera native Token will allow us to deliver on our vision to empower value creation.”