Hex Trust Partners with R3 to Help its Banking Clients

Vandana  |  Apr 6, 2020

Hex Trust is a Hong Kong-based institutional custody provider for digital assets. Recently, through certain reports, it came out that it has teamed up with R3 which is a well-known blockchain company. This collaboration between both the firms is to provide better options to issue security tokens. This option will be offered to all of the banking clients of Hex Trust.

Hex Trust is a company that offers different hardware security modules. While building up the enterprise, the developers have kept different financial institutions and banks in mind. It has also been integrated by some really good and top blockchain protocols.

Hex Trust to integrate the process through Corda

The custodian got this idea of providing this option to its clients when one client of the Hex has issued some tokens for derivatives. This issuing process was completed on Corda.

Hex Trust has now announced that it will use the Corda software development kit. This software development kit will be used for the tokens that were released in July 2019. Alessio Quaglini, CEO of Hex Trust has said that huge demands are coming for Corda or other blockchain-based protocols.

More demands would be coming in future

Under different laws of Hong Kong, the custodian holds a Trust or Company Service Provider license. Some reports suggest that the firm is now moving towards the Monetary Authority of Singapore. Through this step, it is all set to apply for a custody license in Singapore as well.

The company is now about to face some huge demands in the future related to the security tokens. Quaglini has also said that these tokens specially designed by Hex Trust will allow transactions every time irrespective of day and night. It will allow the clients to pay dividends easily without any effort and a lot more.

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