Hex Trust 2023 In Review

Through the twists and turns of legal battles stateside, and the mounting anticipation of pending Bitcoin ETF applications, 2023 has been a year of recalibration and progress.

There has been a marked recognition amongst global regulators that to build the guardrails to protect investors - we must collaborate. And policymakers have listened, supported and reacted.

Major players will seek to root their foundations in regions where regulators take a supportive and progressive stance to foster innovation and protect investors. The dialogue between policymakers and market participants has ensued across the ecosystem this year, and Hex Trust has actively participated.

Our resilience in 2023 is a positive signal of confidence and underscores our commitment to building secure blockchain infrastructure and expanding our global reach as a fully-licensed digital asset custodian.

Here’s a snapshot of what we have done, together with our key partners, to achieve our goals in 2023.

A year of building, innovation & growth

Cementing our global footprint

Our dedication to delivering 24/7 regulated digital asset support to our 250+ global institutional clients has been a cornerstone of our success. In an industry that never sleeps, we have demonstrated our commitment to staying vigilant and responsive at all times.

All while meeting the strictest regulatory, compliance, and security standards, we consistently uphold our commitment to doing things the right way, without exception.

We solidified our presence in Europe and the Middle East, obtaining a Digital Asset Service Provider (DASP) registration in France and a full Virtual Asset Service Provider (VASP) license from VARA in Dubai.

The following are the new licenses and certifications we obtained this year, which attest to our commitment:

• Hex Trust receives SOC 2 Type II Certification from Deloitte, underpinning commitment to internal control and security 
• Hex Trust Receives SOC 1 Type I Certification from Deloitte, demonstrating commitment to internal control and integrity 

Participating in pilot programmes 

Market particpants have deepened their understanding of the opportunities and risks associated with  digital asset innovation.

From the launch of pilot programmes in Asia to test the viability of tokenization and CBDCs, to the regulation of stablecoins, - global policymakers and financial institutions have collaborated across borders  to develop common standards for digital asset market design. Hex Trust has been actively engaged in this dialogue, taking front and center positions.

As part of the e-HKD Pilot Programme, we joined a consortium of partners supporting Ripple and Fubon Bank to showcase  a use case for the equity release of tokenized real estate assets through Ripple’s CBDC platform.

Expanding our ecosystem

We facilitated seamless integration with leading protocols, expanded into DeFi and metaverse asset custody, and enhanced staking solutions across various digital platforms.

• GMO-Z.com Trust Company Partners with Hex Trust to bring institutional-grade custody forGYEN, a regulated Japanese yen stablecoin
• Hex Trust partners withAlgoRai Finance to provide institutional access to DeFi
• Hex Trust partners withThe Sandbox to enable fully-licensed and secure custody metaverse assets 
• Rationarium partnerswith Hex Trust to Provide Custody and Trading Services
• GCEX and Hex Trust expand partnershipbroadening GCEX’s staking offering 
• Hex Trust has been appointed as the only licensed custodian in APAC and the Middle East to support Celestia’s token generation event (TGE)
• Hex Trust’s corporate development and strategic investment arm, Hex Trust Growth, is a supporter of Celestia Labs and is delighted to support Celestia’s mainnet launch with a full suite of custody and staking services.
• Hex Trust has integrated with STASIS, enabling top-tier custodial services for the EURS stablecoin through their Hex Trust Custody solution
• Hex Trust integrates withLinea Chain,offering direct access to Ethereum scaling
• Hex Trust provides delegation support as an FTSO Data Provider for Flare ($FLR)
• Hex Trustlaunches ETH native staking after Shapella upgrade 
• Hex Trust and Consensys’ MetaMask Institutional Integrate to Enhance DeFi Portfolio Management 

Facilitating access to digital asset markets

Hex Trust goes beyond being a licensed custodian.

This year, we introduced Hex Trust Markets (HTM) - a comprehensive platform that offers clients products and services to facilitate seamless access to the digital asset markets.

HTM offers a wide range of services, which include:

Read more here: Introduction to Hex Trust Markets: Seize Opportunities in Digital Assets

Cutting through the noise

Hex Trust has been featured in the media over 150 times, covering:

• Regulatory Developments
• Restoring Confidence
• Increasing Transparency
• Market Analysis
• Crypto Crises
• Custody 3.0
• Web3 infrastructure
• Pilot Programmes
• Ecosystem Innovation
• Institutional Participation
• DeFi

On the big screen

• CNBC - Alessio Quaglini- One of the pillars of the SEC is to protect investors, says digital asset custody platform
• CNBC - Andrew Economos - Cryptocurrency signals change in financial services
• CoinDesk TV - AQ November - Hex Trust CEO on Crypto Custodian Obtaining Full Dubai Operating License
• Forkast IQ - Alessio Quaglini- Europe and Asia are pulling ahead in regulatory developments
• RTHK3 - Calvin Shen - Money Talk

On the front page

• Bloomberg - Binance Founder's Adopted Home Dubai Tightens Crypto Scrutiny
• WSJ - Hong Kong’s Crypto Ambitions Get a Boost From U.S. Crackdown
• Ignites Asia - HK's crypto ETF buzz fades as managers wait on new framework to take shape
• Markets Insider - VASP announcement
• CoinDesk - Crypto Custodian Hex Trust Expands European Foray With Registration in France
• The Block - Hex Trust Receives VASP License from VARA in Dubai
• Decrypt - Hong Kong, UAE Central Banks Coordinate on Crypto Regulations
• Blockworks - Ethereum Layer-2 Token Prices Up Double Digits This Year
• CoinTelegraph -  Crypto custodian Hex Trust receives Dubai VASP license
• Forkast News - What Europe’s new spot Bitcoin ETF means for global markets
• Tech in Asia - Hex Trust partners with The Sandbox to enable fully-licensed and secure custody of metaverse assets

Leading opinions

From embracing regulations in crypto to analyzing global shifts and spotlighting the evolutionary potential of Bitcoin ETFs, Hex Trust is driving thought leadership with impactful insights.

Here are some notable articles featuring our perspectives:

• BlockWorks - Rules in Crypto Are a Good Thing, We Promise
• BlockWorks- Crypto is leaving the US — and that’s ok
• Cointelegraph - An ETF will bring a revolution for Bitcoin and other cryptocurrencies
• Forkast News - Europe's first spot bitcoin ETF

A global custodian with a global voice

Amplifying our global expertise through prominent events, we led keynotes, participated in panels, and co-hosted influential gatherings. Our presence has shaped critical dialogues on blockchain, finance evolution, and digital asset integration – reinforcing our influential voice in the industry.

• Alessio was a keynote speaker at HK Web3 Festival, discussing the implications that blockchain and Web3 on trust, responsibility, and authority
• Hex Trust co-hosted the Paris Blockchain Week Happy Hour with Kiln, Bitpanda, Animoca Brands, LeadBlock Partners and Gryfyn
• Alessio participated in the Citi Panel at the Asia-Pacific Securities Leadership Forum in Singapore alongside esteemed industry leaders, Rahul Banerjee from BondbloX and Chirdeep Singh C., on the evolution of finance and how digital assets plays its part.
• ETHCC Paris, Hex Trust participated in various sessions and panels at the ETHCC Paris conference, discussing topics such as institutional staking, custody solutions, and institutional adoption of digital assets.
• Filippo Buzzi attended Istanbul Blockchain Week.
• Hex Trust was present at Token2049 Singapore.
• Alessio spoke at PL Summit 23 during Labweek23 hosted by Protocol Labs in Istanbul
• Hex Trust at Ethereum Kuala Lumpur (ETHKL)

Connecting with our community

We have shared targeted insights across regulation and institutional digital asset adoption, fostering a close-knit rapport with industry peers and deepening community ties.

• Ripple x Metaco HK Policy Summit - Insights from Alessio on HK regulations & global consensus, & Giorgia on CBDCs beyond payments
• OKX HK Panel: Gabriele Bandi (VP of Sales & Business Development) participated in a panel in Hong Kong to discuss institutional adoption of digital assets.
• Alessio takes part in an XRPL Fireside Chat
• Hex Trust hosted VIP Drinks Night together with Bullish and VIP Cocktail Night together with BitMEX
• Side Event at Token2049 with zkSync
• Hex Trust participated in Hong Kong Fintech Week (HKFTW) as an exclusive networking event alongside TALOS Trading and Galaxy HQ.
• Ripple Panel: Alessio joined Borrisimo for a fireside chat during Token2049 XRPL Zone discussing how TradFi institutions are entering crypto.

Participating in industry dialogue

We shaped broader industry conversations. From secure developments in the metaverse, to the future of DeFi, and emerging trends in virtual asset solutions. We showcased our knowledge and demonstrated our commitment to influencing the industry on the global stage.

• Twitter Spaces - Alessio: Hex Trust hosted a Twitter Spaces discussion on ‘Building Securely in the Metaverse’
• Community Meetup: Exploring the Future of DeFi
• Hang Seng x InvestHK Event: Gabrielle delved into the latest trends on virtual asset solutions in Hong Kong and led discussions around thetopic.
• FD CAPITAL Investor Day - Geoff McAlister spoke at "Chains Beyond Borders" in Dubai

Committed to our local community

Hex Trust is deeply committed to enriching our local communities. Our team actively supports community-driven activities, from hosting informative sessions with universities, to organizing intellectually stimulating events.

• Hex Trust Singapore partners withMuscular Dystrophy Association for impactful CSR initiatives.
• DePaul University: Hex Trust hosted an informative session with DePaul University on "Unlocking the Future of Finance: TradFi vs. DeFi."
• Hex Trust Hong Kong Office participated in a meaningful initiative with Food Angel by Bo Charity Foundation, assisting in preparing 2170 meals together.
• Hex Trust's Singapore Office continued their partnership with MDAS as part of their CSR initiatives by organizing a chess session for MDAS members, promoting strategic thinking and intellectual stimulation while emphasizing the connection between chess and cryptography.
• Alessio was a guest speaker at HKU Business School.

Internal initiatives and culture

At Hex Trust, we prioritize the cultivation of a vibrant and inclusive internal culture. Our internal initiatives are a testament to our dedication to nurturing talent and building a dynamic, supportive workplace.

• Intern Diaries: Hex Trust shared the Intern Diaries, highlighting its internship program.

• Gen Z vs Millennials
• Most Likely To

• TVB Feature: Hex Trust was featured in a TVB segment - Stanford University students share their internship experiences at Cyberport in TVB News Programme

What’s next for Hex Trust in 2024?

We’ll be announcing product upgrades for our Hex Safe platform and expansions across all our service verticals. There will be introductions to new features and services which include broader support for on-chain staking, wrapping, delegating, DAO governance, e-trading, liquidity provision, token issuance, and more.

Regulators are collaborating. Market participants are testing. The industry is maturing.

Together as a team, we will continue to be an integral part of the dialogue and build trusted infrastructure to drive the global adoption of digital assets and encourage institutional participation.

Anchored in digital assets. Deep-rooted in security. Lead by TradFi veterans. Extending beyond custody. 2024 is set to be another year of growth for Hex Trust.

Watch this space!