Hex Trust x Qredo Partnership
Hex Trust is partnering with Qredo Network to offer a new licensed custody service that includes Qredo’s decentralized MPC custody, seamless cross-chain trading and Layer 2 settlement.
The integration marks the next step in Hex Trust’s journey to continually enhance its digital asset custody services in line with the evolving blockchain ecosystem. As the institutional gateway to digital assets, Hex Trust is seeing rising demand for digital asset custody solutions from institutions across the financial services industry. This includes a requirement for greater capital efficiency and easier access to the growing number of DeFi opportunities in a highly secure, scalable and compliant manner.
Earlier this year, Qredo completed its equity fundraise and private token sale. Strategic investors who are also building on the Qredo Network include crypto leaders Coinbase, Deribit, Celsius, Nexo, CMS Holdings and 3commas.
The partnership will offer Hex Trust clients — including financial institutions, digital asset service providers, and private clients — multiple benefits:
- The combination of Hex Trust’s regulated, insured custody with the enhanced digital asset security made possible by Qredo’s unique implementation of multi-party computation (MPC).
- Granular governance options, including an unlimited number of sub-wallets and transaction signing processes that can be tailored to match existing team structures and asset management workflows.
- The ability to trade safely on innovative unlicensed or licensed exchanges, without the need to prefund wallets, leave assets on the exchange, or be exposed to third party credit line risk.
- Instant, low-cost access to the growing number of services on Qredo Network — including lending and staking, and seamless trading via Qredo’s new Liquidity Hub.
- Comprehensive reporting for compliance oversight, internal review or client reporting. Qredo records all activity on a blockchain, providing an accessible and immutable audit trail with none of the risks of vulnerable spreadsheets or centralized databases. Includes live reporting on wallet holdings, market values, and a detailed record of who signed a transaction, when, and where.
About Qredo
Qredo is a decentralized digital asset management infrastructure and product suite designed to unlock new opportunities for institutional investors in digital assets and decentralized finance. Qredo’s Layer 2 blockchain protocol enables users to seamlessly transfer and settle BTC, ETH, and ERC-20 tokens. Assets are secured by Qredo’s advanced Gen 2.0 multi-party computation (MPC), which provides tier-1 bank security and institutional-grade governance.
About Hex Trust
Hex Trust is the leading fully-licensed and insured provider of bank-grade custody 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, financing, and brokerage solutions for financial institutions, digital asset service providers, and private clients. Hex Trust has offices in Hong Kong, Singapore, and Vietnam and is expanding to the European market during 2021.
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