Hex Trust partners with Chainalysis to provide a compliance-focused custody solution for financial institutions

Hex Trust partners with Chainalysis to provide a compliance-focused custody solution for financial institutions

May 15, 2021

Hex Trust today announced our partnership with Chainalysis, the blockchain analysis company. Hex Trust will adopt Chainalysis KYT (Know Your Transaction), the compliance solution, for real-time transaction monitoring, and Chainalysis Reactor, the investigative tool, for enhanced due diligence. This collaboration will enable Hex Trust to add an additional layer to our already robust compliance features for our proprietary platform, Hex Safe, providing financial institutions peace of mind for their digital asset transactions.

Over the last year, cryptocurrency has become a mainstream asset class, with an inflow of institutional dollars driving Bitcoin and other cryptocurrencies to record prices. Forward-thinking banks are increasingly giving customers direct access to cryptocurrency by partnering with custodian services to hold cryptocurrency on their behalf. This allows them to test the new offering with fewer resources invested, while also drawing on outside cryptocurrency expertise to increase their chances of success.

“Chainalysis is thrilled to partner with such a trusted name in digital asset custody. With financial institutions increasingly looking to invest in cryptocurrency, this is the optimal time for trusted partners like Hex Trust to invest in their compliance technology.” — Ulisse Dellorto, Managing Director of APAC for Chainalysis

“Cryptocurrency and blockchain technology is at the forefront of innovation in the financial services industry, and traditional financial institutions that embrace the change are likely to come out on top. Our partnership with Chainalysis is another testament to Hex Trust’s commitment to providing our clients with the most secure custody solution with a comprehensive compliance-first approach available in the market today.” — Alessio Quaglini, CEO & Co-Founder of Hex Trust

Chainalysis recently closed its Series D funding, raising $100 million with a more than $2 billion valuation. Chainalysis serves as a strategic partner to financial institutions, governments, and cryptocurrency businesses around the world, providing data, software, and expertise on sophisticated cryptocurrency crime and money laundering tactics, techniques, and procedures.

Chainalysis provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. The data platform powers investigation, compliance, and risk management tools that have been used to solve some of the world’s most high-profile cyber criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Paradigm, Ribbit, and other leading names in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

Thank you! Your submission has been received!
Download the PDF ⟩
Oops! Something went wrong while submitting the form.
More from Hex Trust
Hex Trust Partners with WalletConnect to Enhance User Experience in the Web3 Ecosystem
March 5, 2024
Hex Trust Partners with WalletConnect to Enhance User Experience in the Web3 Ecosystem
Seamless interaction with 5,000+ apps across EVM chains. Secure and convenient connectivity for trading, DeFi, NFTs, and gaming.
Read More ⟩
Hex Trust Announces New Appointments to Advisory Board
February 14, 2024
Hex Trust Announces New Appointments to Advisory Board
Hex Trust is pleased to announce the addition of Dr. Dimitrios Kavvathas and Marty Jetton to its Advisory Board.
Read More ⟩
Hex Trust Joins Injective as a Validator
February 8, 2024
Hex Trust Joins Injective as a Validator
Hex Trust and Injective forms a strategic partnership, combining their expertise to enhance network security and unlock institutional opportunities in the decentralized finance landscape.
Read More ⟩
We use cookies, including third-party cookies, to ensure that we give you the best experience on our website. By continuing to browse, you consent to the use of cookies. Learn more about cookies and how to control whether they are enabled. View our Privacy Policy for more information.
Cookie preferences