Hex Trust, a Asian crypto asset custodian, Today announced the establishment of a partnership with the enterprise-level public ledger Hedera Hashgraph.
Specifically, Hex Trust has integrated the Hedera network and Hedera Token Service (HTS) standards into its bank-level custody platform Hex Safe, thereby supporting HBAR, the native cryptocurrency of the Hedera network, and all HTS issuances on the protocol.
In addition, Hex Trust has been appointed as the strategic custodian of TOKO (a wholly-owned subsidiary of DLA Piper), which is a digital asset creation engine delivered in cooperation with DLA Piper, a member of the Hedera Management Committee, to enable value creation.
It is worth noting that TOKO (a wholly-owned subsidiary of DLA Piper) has appointed BCW Group to lead TOKO program development and strategic partnerships to enhance the platform’s ecosystem products.
Hex Trust + Hedera
this Ivy Consensus Service (HCS), Used for high-throughput, cheap and verifiable data recording; and Hedera Token Service (HTS), used for native token issuance, management and transfer.
Live live last year, HTS allows users to issue digital tokens for any asset on Hedera’s decentralized ledger at the native layer, so that they can transfer value instantly and securely without an intermediary.
Anything that represents value can be tokenized and transferred, and its value can be exchanged anywhere. Tokens deployed through HTS benefit from the same high performance, security and efficiency as HBAR.
“Through this cooperation, Hex Trust provides banks, financial institutions and institutional investors with a safe, reliable and compliant way to integrate HTS-based tokens, thereby facilitating the expansion of enterprise-level agreements. And as a strategic custodian TOKO, a wholly-owned subsidiary of DLA Piper, has worked closely together, further demonstrating our commitment to implementing robust compliance standards and protecting the interests of investors.”
—— Alessio Quaglini, CEO and co-founder of Hex Trust
In November 2020, Hedera Hashgraph and DLA Piper launched the tokenization engine TOKO, a digital asset creation engine that combines the compliance and regulatory rigor of global law firms with innovative technological solutions in the future.
TOKO provides a platform to create new markets and uses distributed ledger technology to disseminate market information and provide transparency.
“With a focus on the highest security standards and enterprise-level workflows and strict compliance methods, Hex Trust has become the leading bank-level Asian digital asset custodian. Given the attractiveness of TOKO in the asset tokenization market, we are very pleased See Hex Trust being appointed as the official custodian of TOKO.”
—— Mance Harmon, CEO and co-founder of Hedera