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

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

June 13, 2022

Hex Trust has successfully integrated Polygon, the full-stack scaling solution on Ethereum, into its digital asset custody platform Hex Safe. As a result, Hex Trust now offers fully-licensed and highly-secure custody for Polygon’s native token (MATIC) with plans to support non-fungible tokens (NFTs) and the full stack of services built on Polygon.

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

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting two major types of solutions - Secured chains (Layer 2 blockchains) and Stand-alone chains (Sidechains).

Polygon effectively transforms Ethereum into a full-fledged multi-chain system or Internet of Blockchains. This multi-chain system is akin to other ones with major upsides:

  1. It is able to fully benefit from Ethereum’s network effects
  2. It is inherently more secure. 
  3. It is more open and powerful, primarily in terms of the architecture types it can support. 

Giorgia Pellizzari, Head of Custody at Hex Trust - “At Hex Trust, we have a multi-chain vision for the digital asset industry, where digital assets no matter what chain they're on, are seamlessly available on our universal custody platform, Hex Safe. As a result, it's integral to integrate successful chains like Polygon which is widely recognized as a full-stack Ethereum scaling solution demonstrated by its impressive market traction. Polygon's highly-scalable approach makes it appealing and easily accessible for both institutional and retail clients alike, especially with their adherence to compliance and regulation. We're looking forward to working closely with Polygon moving forwards and building our ecosystems together in DeFi, the metaverse, and NFTs.”

Hex Trust will be working closely with Polygon moving forwards as institutions continue to enter the digital asset economy, actively participate in the DeFi ecosystem, and utilize NFTs in the metaverse and Web3 space.

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 Polygon

Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted, 1.6B+ total transactions processed, 142M+ unique user addresses, and $5B+ in assets secured. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.

If you're an Ethereum developer, you're already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.

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