Hex Trust’s partners IBM and R3 join forces to bring enterprise blockchain solutions to market

Hex Trust’s partners IBM and R3 join forces to bring enterprise blockchain solutions to market

October 29, 2020

Our partners, IBM and R3, have announced a new collaboration and will integrate R3’s enterprise blockchain platform, Corda Enterprise, to IBM LinuxONE next month.

Hex Trust will work together with IBM and R3 to bring to market enterprise blockchain solutions and more banks and financial institutions into the ecosystem.

Hex Trust has a global partnership with IBM for digital asset custody and leverages IBM’s LinuxONE to build our Hex Safe custody platform. Hex Trust has also partnered with R3 and is one of the first custodians to integrate Corda Enterprise and provide full custody support for tokens built on their blockchain.

“The infrastructure of financial markets will be rewritten in the next few years, with new technologies bringing a complete shift in how services are created and delivered. While underlying technologies emerge in several areas like blockchain — security, robustness and scalability of new solutions remain critical aspects of any new development. As one of the few custodians integrating public and permissioned blockchains within a universal blockchain platform, it’s an honor to be part of this alliance to work with R3 and IBM to bring new solutions to market designed to facilitate the institutional adoption of digital assets at scale.” — Alessio Quaglini, CEO and co-founder of Hex Trust

Enterprises, especially those in regulated industries, are increasingly looking to build blockchain solutions with advanced security and data privacy features while addressing performance. For clients with highly sensitive data and workloads such as digital identity, digital assets, central bank digital currencies, tokens, payments information, or smart contracts being spread across hybrid cloud environments, IBM LinuxONE provides a highly secured platform certified to meet the highest level of security certification commercially available.

Central Bank Digital Currency Demo at CordaCon

Our CTO and co-founder, Rafal Czerniawski, recently demoed our capabilities at CordaCon. CordaCon brings together 5000+ industry leaders, technologists, and Corda enthusiasts to look at key trends in blockchain, digital transformation and the latest applications built on Corda.

Our session focused on ‘Enterprise Grade Infrastructure for Digital Assets’ and included Dave Hudson (Chief Engineering Office at R3) and Rebecca Gott (Distinguished Engineer at IBM).

During the session, we demonstrated providing custody for a Central Bank Digital Currency built on Corda Enterprise, leveraging IBM LinuxONE, all wrapped up in our bank-grade custody platform, Hex Safe.

The Central Bank issued its own CBDC using Corda Enterprise, and then we showed the Central Bank minting new currency tokens and then distributing the currency to one of its member banks via Hex Safe.

(Left) The Central Bank’s Hex Safe account. (Right) Member Bank’s Hex Safe account.

Withdrawal process showing the Central Bank sending newly minted currency to a Member Bank.

The Member Bank receiving the transaction.

If you’d like to watch the full session and demo, please click the link below.

Watch Demo on Youtube

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