Hex Trust, an Asia-based crypto asset custodian, today announced its partnership with Hedera Hashgraph, the corporate public ledger.
Specifically, Hex Trust has integrated the Hedera network and the Hedera Token Service (HTS) standard into Hex Safe, its bank-grade custody platform, enabling support for HBAR, the native cryptocurrency of the Hedera network, and all HTS broadcasts on the protocol.
In addition, Hex Trust has been appointed strategic custodian of TOKO (a 100% subsidiary of DLA Piper), a digital asset creation engine enabling value creation, provided in collaboration with DLA Piper, member of the Board of Directors. by Hedera.
Notably, TOKO (a wholly owned subsidiary of DLA Piper) appointed BCW Group to lead the development of the TOKO program and strategic partnerships to enhance the platform’s ecosystem offerings.
Hex Trust + Hedera
The Hedera Consensus Service (HCS), used for high-speed, inexpensive and verifiable data logging; and the Hedera Token Service (HTS), used for issuing, managing and transferring native tokens.
Launched live last year, HTS allows users to issue digital tokens for any asset on Hedera’s decentralized ledger at the native layer level so they can instantly and securely transfer the value without intermediary.
Anything that represents value can be symbolized and transferred, and its value can be redeemed anywhere. Tokens deployed through the HTS benefit from the same high performance, security and efficiency as HBAR.
“With this collaboration, Hex Trust is facilitating the expansion of the enterprise-level protocol by providing banks, financial institutions and institutional investors with a safe, secure and compliant way to integrate HTS-based tokens. Working closely with TOKO (a 100% subsidiary of DLA Piper) as a strategic custodian once again demonstrates our commitment to implementing strong compliance standards and protecting the interests of investors.
– Alessio Quaglini, CEO and Co-Founder, Hex Trust
In November 2020, Hedera Hashgraph, in collaboration with DLA Piper, launched the tokenization engine, TOKO – a digital asset creation engine that combines the compliance and regulatory rigor of a global law firm with innovative technological solutions. of tomorrow.
TOKO provides a platform to create new markets and uses distributed ledger technology to disseminate market information and ensure transparency.
“By focusing on the highest security standards, enterprise-grade workflows and a rigorous approach to compliance, Hex Trust has established itself as one of the leading custodians of quality Asian digital assets. banking. Given TOKO’s traction in the asset tokenization market, we are delighted to see Hex Trust named official custodian of TOKO. “
– Mance Harmon, CEO and Co-Founder, Hedera