Hex Trust integrates Polkadot to enable fully-licensed and highly-secure custody support

Hex Trust integrates Polkadot to enable fully-licensed and highly-secure custody support

June 27, 2022

Hex Trust has successfully integrated Polkadot, the leading interoperability blockchain network, into its digital asset custody platform Hex Safe. As a result, Hex Trust now offers fully-licensed and highly-secure custody for Polkadot’s native token (DOT) with plans to support a full stack of services built on Polkadot.

The integration enables Hex Trust’s 200+ institutional clients to be able to trade, lend, and stake DOT, all without needing them to send their assets outside of the secure custody platform Hex Safe. 

Polkadot was launched in May 2020 with the aim of advocating a "fragmented" multi-chain future to facilitate the interoperability of blockchain networks. To make this interoperability a reality, Dr. Gavin Wood, founder of Polkadot and co-founder of Ethereum, created a layer zero known as Relay Chain, which supports 100 parachains, sovereign blockchains that work in parallel with a high level of security. Several of the leading parachains which have successfully secured slots include Acala, Moonbeam, Astar, Parallel, and Clover.

Giorgia Pellizzari, Head of Custody at Hex Trust - "We're excited to have integrated Polkadot and open up the endless possibilities their emerging ecosystem is enabling. Within Hex Safe, we endeavor for our clients to seamlessly hold and have the ability to trade leading tokens such as Polkadot in our multichain and highly-secure custody platform.”

About Hex Trust

Hex Trust is the leading fully licensed and insured provider of bank-grade custody and associated services for digital assets in Asia. Led by veteran banking technologists and award-winning financial services experts, Hex Trust has built Hex Safe, a proprietary bank-grade platform that delivers custody, DeFi, brokerage, and financing solutions for financial institutions, digital asset organizations, corporations, and private clients.

Hex Trust has offices in Hong Kong, Singapore, and Vietnam and is expanding across Europe and the Middle East. In Singapore, Hex Trust holds a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS), allowing the company to provide custodial services regulated under Singapore’s Securities and Futures Act. In Hong Kong, Hex Trust is registered as a Trust Company under the Hong Kong Trust Ordinance and holds a Trust or Company Service Provider (TCSP) license under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. 

For more information: visit hextrust.com or follow Hex Trust on LinkedIn and Twitter.

About Polkadot

Polkadot provides the technical advances necessary to make blockchain technology practical, accessible, scalable, interoperable, and future-proof, removing limitations and barriers to entry, and thereby fueling innovation, growing the decentralized technology space, and bringing the Web3 vision to life.

Web3 Foundation contracted Parity Technologies to develop the first implementations of Polkadot in Rust and JavaScript. Dr. Gavin Wood, Co-Founder of Ethereum and Robert Habermeier, 2018 Thiel Fellow, are Co-Founders of Polkadot and Core Developers of the project. Additional contributors can be found by viewing the “Commits” on Parity Technologies Polkadot GitHub repository.

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