Hex Trust partners with Qredo to offer decentralized custody and next-generation crypto services

Hex Trust partners with Qredo to offer decentralized custody and next-generation crypto services.

Asia’s Leading Digital Asset Custodian, 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.

London, September 28, 2021 — Hex Trust, Asia’s leading fully-licensed and insured provider of bank-grade custody for digital assets, is integrating with decentralized custodial infrastructure provider Qredo.

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.

Qredo is a provider of a radical new blockchain-based infrastructure for digital assets. Its ground-breaking Layer 2 solution solves many of the structural challenges present in the digital asset economy, including centralized database and private key risk, high frictional costs when trading across different blockchains, and counterparty risk.

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.

Alessio Quaglini, CEO & Co-founder of Hex Trust, commented on the integration, “Qredo is pioneering a sophisticated solution to a complex problem to reduce friction in a fragmented marketplace that offers an ever-increasing range of protocols and decentralized applications. As the first fully integrated custodian participating in the network, we support Qredo’s expansion by ensuring the highest-grade security at all times and providing our customers with access to instant cross-chain settlements.”

Anthony Foy, CEO of Qredo, added, “Powered by Qredo Network, Hex Trust can now offer the best of both worlds: institutional regulated custody and instant, secure access to evolving digital asset innovation. Qredo’s decentralized infrastructure enables Hex Trust customers to overcome the storage risks and frictional costs traditionally associated with holding and managing digital assets. As a result, Hex Trust can continue to offer the custody innovation for which it’s known — distinguishing itself further in an increasingly crowded crypto custody market.”

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.

To learn more about Qredo, visit Qredo.com or follow us on LinkedIn and Twitter.

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.

To learn more about Hex Trust, visit https://hextrust.com/ or follow us on LinkedIn and Twitter.