Hong Kong, 24th September 2019: Hex Trust, the Asian leader for fully licensed, secure, and insured custody for digital assets, announced custody of the SGHX token, listed on the London Derivatives Exchange (LDX).
As LDX’s exclusive custodian, Hex Trust will provide the safekeeping and settlement of orders for all the SGHX tokens. The first 120M tokens have been issued and have been made available for trading on the platform. The tokens have an initial price of US$0.28, totalling US$34M, and representing 22% of SGH’s economic interests.
LDX is an exchange that deals with both traditional financial derivatives and blockchain-based digital assets. The exchange is approved and monitored by the British Financial Supervisory Service (FCA) which brings an added level of trust and security for institutional investors.
Hex Trust partnered with LDX in order to bring confirmation, settlement and clearing to Security Tokens. Hex Trust’s custody solution provides a full suite, end-to-end safekeeping, settlement, and issuance platform for a broad range of digital assets. While also ensuring any enterprise-grade digital market participant operates smoothly while adhering to current regulatory requirements. This, combined with the assurances of working with Hex Trust as a licensed trust company, creates a new and comprehensive level of digital asset servicing.
SGHX is the first security token which has been listed on the LDX platform and has been made available for trading. Issuing the SGHX token is Sumner Global (SGH) which is an investment company involved in mining, healthcare, real estate and digital technology.
“At Hex Trust, we believe that the custody, settlement and related services are the key to unlocking the potential that exists within the blockchain space. We’ve focused on building the enterprise-level infrastructure LDX market participants demand. We’re proud of this partnership and excited by its potential.” said Alessio Quaglini, CEO of Hex Trust.
“At LDX, we see the Hex Trust Custody solution as an important component in our settlement chain and have confidence in their unique settlement processes. As the market develops new technologies, it is vital that licensed firms like Hex Trust are in place to protect investors.” said VJ Angelo, CEO of LDX.
Hex Trust is the Asian leader in enterprise-grade custody for digital assets. Led by innovators from the institutional financial services space, Hex Trust has built a proprietary platform that delivers a modern custody solution for financial institutions, digital asset organizations, and corporations to safely and efficiently operate in the blockchain ecosystem. ZeroKey, a proprietary technology, enables seamless transacting and fast access to assets stored on multiple blockchains, while maintaining the highest levels of security of cold storage solutions. As a registered Trust Company under the Hong Kong Trust Ordinance and holding a Trust or Company Service Provider (TCSP) license under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, Hex Trust offers a truly end-to-end digital asset servicing solution. Visit www.hextrust.com to learn more.