Hex Trust, Asia’s leading digital asset custodian, has partnered with Celo to help build a global financial system that creates the conditions of prosperity for all. Hex Trust customers, including financial institutions, digital asset organizations, corporations and private clients, can now safely custody Celo’s native token CELO, as well as its stablecoins cUSD and cEUR on Hex Safe, the institutional-grade digital assets custody platform.
Celo is a decentralized, layer-1, proof-of-stake blockchain designed to support stablecoins and tokenized assets. The protocol is optimized for fast, low-cost, peer-to-peer transactions and merchant payments via mobile phones. Launched on Earth Day in 2020, Celo is governed on-chain and offers several native assets, including CELO, and three stablecoins: cUSD, which tracks the value of the US dollar; cEuro, which tracks the value of the Euro, and cReal, which tracks the value of the Brazilian real.
In addition to payments, Celo supports the development of dApps on its blockchain, including impactMarket, a decentralized poverty alleviation protocol that enables the distribution of unconditional basic income (UBI) to those in need. By leveraging Celo’s fully transparent blockchain, impactMarket is able to track deposits from donors as well as transfers of funds directly to recipients.
The integration with Celo marks another milestone in Hex Trust’s continuous efforts to stay ahead of the curve and embrace new protocols and technologies as they emerge. Hex Trust currently supports hundreds of tokens across 11 protocols, including cryptocurrencies, utility, governance, and security tokens, as well as NFTs, providing institutional-grade infrastructure to securely access custody, DeFi, brokerage, and financing services.
Alex Witt, CFO at Celo Foundation - ”Hex Trust is the premium Asia-focused licensed institutional custodian. We are thrilled to be working with Hex Trust as we expand our partnerships across APAC.”
Calvin Shen, Managing Director at Hex Trust - "Celo is pioneering sophisticated solutions and user-friendly applications to solve the complex problem of raising financial inclusion in a globally accessible way. As the primary Asia-based custodian partnering with Celo, we support their mission-driven expansion by bringing institutional access to the wider Celo ecosystem, providing the highest standards of protection, scalability, and interoperability."
In May 2020, Hex Trust joined the Celo Alliance, which contributes to education, technical research, environmental health, community engagement, and ecosystem outreach to support and encourage an inclusive financial system in the geographies that need it most. The Alliance is an inclusive and decentralized community of mission-aligned organizations across a variety of industries, including organizations such as Coinbase Ventures, a16z, Polychain Capital, MoonPay, Klaytn, Hashkey, OKCoin, Opera, Abra, and Blockdaemon. Alliance members are empowered to build and ship applications for a variety of financial use cases built on top of the Celo Platform.
Celo is a carbon-negative, Layer-1 protocol with a rich ecosystem of global partners building Web3 applications, including in DeFi, NFTs, and payments, in support of Celo’s mission to create a more accessible and inclusive global financial system. Accessible to anyone with a smartphone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (Celo Protocol), the CELO token, and stablecoins (cUSD, cEUR, cREAL).
Additionally, the ecosystem is supported by the Alliance for Prosperity, which consists of over 150 mission-aligned Celo Foundation members around the globe, including Deutsche Telekom, PayU, Opera, Andreessen Horowitz, Anchorage, Coinbase, GSMA, Grameen Foundation, Prosegur, Abra, and cLabs, a service organization dedicated to growing and developing the Celo ecosystem.
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, DeFi, brokerage, and financing solutions for financial institutions, digital asset service providers, and private clients.
Hex Trust has offices in Hong Kong, Singapore, and Vietnam and is expanding across Europe and the Middle East. 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. 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.