Hex Trust becomes the first licensed digital asset custodian in Hong Kong to support R3's blockchain platform, Corda
HONG KONG, April 1, 2020 /PRNewswire/ -- 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.
R3 is an enterprise software company working together with an ecosystem of more than 350 firms to build distributed applications on top of its Corda platform. These solutions, known as CorDapps, are being used across industries such as financial services, insurance, healthcare, and trade finance.
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, said:
"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."
About Hex Trust
Hex Trust is the Asian leader in enterprise-grade custody for digital assets. Led by innovators from the institutional financial services space, Hex Trust has built a proprietary platform that delivers a modern custody solution for banks, financial institutions, asset managers, and corporations to safely and efficiently operate in the blockchain ecosystem.
The market-leading security of Hex Trust's platform has been enhanced by their business partnership and product integration with IBM. ZeroKey(TM), a proprietary technology, enables seamless transacting and fast access to assets stored on multiple blockchains while maintaining the highest levels of security of cold storage solutions. As a registered Trust Company under the Hong Kong Trust Ordinance and holding a Trust or Company Service Provider (TCSP) license under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, Hex Trust offers a truly end-to-end digital asset servicing solution. Hex Trust is headquartered in Hong Kong and has offices in Singapore, Vietnam and European offices coming in 2020. Visit www.hextrust.com to learn more.
R3 is an enterprise blockchain software firm working with a global ecosystem of more than 350 participants across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.
R3's global team of over 350 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its vibrant ecosystem.
The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions' financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at www.r3.com and www.corda.net.
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