Hex Trust selected as INX’s Asia-based custodian for US$117M IPO

Hex Trust selected as INX’s Asia-based custodian for US$117M IPO

August 24, 2020

Hong Kong, 24th August 2020; Hex Trust, Asia’s leading enterprise-grade custodian, has announced that it now offers custodian services for the INX token in Asia in advance of INX’s upcoming US$117 million security token IPO, and the launch of its exchange for security tokens and cryptocurrencies trading.

As a fully-licensed custodian subject to enhanced compliance guidelines, Hex Trust has the same mission as INX of enabling access to regulated security tokens and cryptocurrencies for institutional and retail investors.

Hex Trust’s proprietary technology has been specifically designed to provide the leading digital asset custody services for the banking sector via its compliance-first framework and flexible deployment options. Hex Trust has a global partnership with IBM for digital asset custody services and provides the Hex Safe platform with market-leading security. Digital assets held on Hex Safe also have insurance coverage arranged by Aon.

Douglas Borthwick, Chief Marketing Officer, Head of Business Development at INX said:

“We are consistently impressed with Hex Trust’s growth in the region, and their adherence to regulatory standards, it’s been a pleasure working with them.”

Calvin Shen, Head of Sales and Business Development at Hex Trust said:

“We share the same vision as INX that working with the regulators and providing a compliance-first framework is the best way to bring trust and transparency into the digital asset ecosystem. Being selected to work on the industry’s landmark IPO as their Asia-based custodian reflects the strong institutional appetite for digital assets in the region, and reinforces our client commitments by offering the most compliant and enterprise-grade custody and infrastructure solutions in the market.”

INX is a cryptocurrency and security token exchange based in the U.S and is offering 130,000,000 INX Tokens in a first-ever SEC-registered IPO. The funds will be used for the launch of INX exchange operations and the continuous development of its regulated platform.

The IPO is potentially one of the largest registered securities sales by a blockchain company. INX registered with the SEC to be able to solicit the general public for the fundraise, which took the company two years to complete.

About Hex Trust

Hex Trust is the leading digital asset custodian for the banking sector. Headquartered in Asia, the platform — Hex Safe — provides a compliance-focused custody infrastructure, deployment flexibility, and seamless integration with third-party service providers in the ecosystem such as exchanges, OTCs, lending and staking platforms. Hex Trust is backed by Kenetic, one of Asia’s leading blockchain firms, and has strategic partnerships with IBM and R3.

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