October 2023: Reshaping the Narrative

October 2023: Reshaping the Narrative

November 8, 2023

In the wake of Sam Bankman-Fried's recent conviction on seven counts of fraud, the long-running FTX saga appears to be reaching its conclusion, pending finalization of sentencing and other unresolved matters. The question now lingers: What does this verdict mean for the future of the industry? Will it cast a lasting shadow over crypto's reputation, making it difficult for companies to convince users of the value of digital assets? Or will it serve as a moment of closure, demonstrating that the legal system, journalism, and the industry itself can rectify its course? 

At Hex Trust, we see this situation as an opportunity for growth and improvement within the industry. We firmly believe that blockchain technology holds the potential to enhance transparency and restore confidence. Since our establishment, we have remained dedicated to driving innovation in the digital asset space. The trust of our clients, investors and supporters is important to us and we are immensely grateful for their continued support. This acts as a motivation for us to redefine the narrative of Web3, shaping a more resilient and trustworthy future.

In recent developments, Hex Trust has achieved noteworthy milestones. We actively participated in Celestia's Token Generation Event, engaged in discussions at the Ripple x Metaco HK Policy Summit, and established partnerships with Ripple, Fubon Bank and other collaborators for a tokenized asset settlement pilot. These accomplishments not only highlight our commitment to regulated digital asset support but also underscore our active role in shaping the future of the industry.

Now, moving on. Here’s what we’ve been up to this month.

Blockchain Innovation Presented by Geoff McAlister at ABC Conclave in Dubai


Geoff McAlister, MD and Head of Hex Trust Markets, participated in the ABC Conclave, alongside representatives from Crown Holdings, Polygon, Ava Labs, SKALE, The Graph, BNB Chain, FD Capital, Ceras Ventures, Cypher Capital, and Partisia where he discussed blockchain innovation. The event, titled "Chains Beyond Borders," was held in Dubai on November 1st and aimed to explore the latest advancements in blockchain technology and its potential impact on different industries.

Hex Trust's Participation at Ethereum KL 2023: Driving Adoption


Hex Trust joined Ethereum Kuala Lumpur 2023, a conference/hackathon that brings the global Ethereum community together in Malaysia. The event took place from Oct 13-15 at Sunway University. Attendees had the opportunity to connect with Hex Trust's product and custody team: Giorgia Pellizari (Head of Custody), Kelvin Ting (Head of Product), Joseph Saw (Product Manager), and Arif Lee (Business Analyst, Product). Ethereum Kuala Lumpur 2023 focuses on promoting the understanding and adoption of Ethereum smart contracts and related technologies. The event includes talks, workshops, and hackathons, providing a platform for blockchain builders, developers, and enthusiasts to come together and collaborate.

Insights on Virtual Asset Solutions at Hang Seng x InvestHK Event

Gabriele Bandi, Head of Client Management, participated in a Virtual Asset Solution Showcase hosted by Hang Seng Bank and InvestHK. During the event, he provided insights into the current trends surrounding virtual asset solutions in Hong Kong including OKLink, the digital asset industry, and On-chain AML tools.

Celestia’s Successful TGE and Hex Trust as a Staking Provider for TIA 

Celestia recently concluded its successful Token Generation Event (TGE), showcasing its potential to revolutionize scalability and data management in the blockchain space. Hex Trust serves as a trusted custodian and staking provider for Celestia, offering secure custody services for the native token, TIA, through their institutional-grade platform, Hex Safe. They enable institutional investors to actively participate in securing the Celestia network and earn staking rewards through Hex Trust Markets. This comprehensive approach promotes network participation and the protection of digital assets within the Celestia ecosystem.
More information about Hex Trust's custodial and staking services designed for $TIA here

Stan Choi's Insights on the Future of Work at Inspire HR

Stan Choi, Head of HR, participated in the Inspire HR event on October 13, organized by Human Resources Online. Inspire HR serves as a platform for HR professionals and visionaries to collaborate, innovate, and acquire valuable insights into the ever-changing landscape of work. During the event, Stan Choi shared his expertise to discuss the latest trends, strategies, and insights that are shaping the future of work. Attendees had the opportunity to explore emerging developments in the workplace and gain a deeper understanding of how these changes impact businesses and professionals in the HR field.

Interview with Calvin Shen: Bitcoin ETFs and Digital Custodians


Calvin Shen, MD and Head of Sales & Business Development, engaged in an insightful discussion with Carolyn Wright from Radio Television Hong Kong (RTHK) Radio 3's Money Talk. The conversation focused on the approval of Bitcoin ETFs and the role of digital custodians in facilitating the widespread adoption of ETFs. They highlighted the significance of digital custodians in ensuring appropriate governance and providing enhanced protection to safeguard investors' assets.

Listen here: RTHK Website | Spotify | Apple Podcast

Introducing Hex Trust Markets: Secure Access to DeFi

Introduction to Hex Trust Markets: Seize Opportunities in Digital Assets

In our recent announcement, we introduced Hex Trust Markets (HTM), a comprehensive platform that provides secure and convenient access to the decentralized finance (DeFi) ecosystem. HTM offers deep liquidity, robust risk management, and valuable market insights for digital assets. With our OTC Trading Desk and Fiat Solutions, users can securely trade over 500 assets and seamlessly transition between digital and fiat currencies. HTM also offers treasury management, financing, and yield solutions, along with bank-grade custody and tailored solutions for institutional clients. Our trusted custody solution, Hex Safe, allows clients to confidently participate in DeFi activities. HTM supports various assets such as Ethereum (ETH), Klaytn (KLAY), Hedera (HBAR), and Flare Networks (FLR), providing extensive DeFi connectivity and unlocking opportunities in the ecosystem.

Ripple and Metaco HK Policy Summit: Regulatory Developments & CBDCs

The Ripple and Metaco HK Policy Summit saw a great turnout and engaged discussions with stakeholders from the virtual assets industry. Alessio Quaglini, Co-founder and CEO, shared insights on regulatory developments in Hong Kong and global consensus. Giorgia Pellizzari, Head of Custody at Hex Trust, discussed the transformative role of Central Bank Digital Currencies (CBDCs) beyond payments. The summit aimed to promote dialogue between policymakers, regulators, and market participants in Hong Kong's virtual assets industry.  Supporting Partners such as Authento, Fubon Bank, and OSL actively participated in the event, further enhancing the collaborative nature of the summit. Ripple and Metaco emphasized the significance of public-private collaboration in promoting responsible innovation and ensuring the long-term growth of the virtual asset ecosystem.

Hex Trust's Pinktober Event and Halloween Celebration

Hex Trust organized and hosted the PINKTOBER - Breast Cancer Awareness event on October 10, providing a platform to raise awareness about breast cancer. The event featured activities, sharing sessions, and discussions on early detection, prevention strategies, support systems, and research initiatives, aiming to deepen attendees' understanding of the disease's impact on individuals, families, and communities. 

Additionally, recognizing the festive spirit of October as the Halloween month, Hex Trust organized its own event called 'Hexoween,' which contributed to fostering a fun work culture. The team enjoyed dressing up and engaging in a thrilling Crypt-O Murder experience, creating lasting memories during a day filled with treats and camaraderie.

Hex Trust supports Ripple and Fubon Bank in HKMA's e-HKD Pilot Programme

Hex Trust supports Ripple and Fubon Bank in HKMA's e-HKD Pilot Programme

Hex Trust has partnered with Ripple and Fubon Bank, along with a consortium of partners including KodeLab, TOKO, and BCW Group, to support the tokenized asset settlement pilot for HKMA's e-HKD Pilot Programme. As a licensed digital asset custodian, Hex Trust ensures secure storage of hypothetical e-HKD tokens. This collaboration highlights the potential of tokenized assets in enhancing financial services.

The pilot focuses on the Home Equity Line of Credit (HELOC) use case, leveraging Ripple's CBDC Platform for streamlined access to excess property equity. The consortium aims to pioneer the tokenization of real estate assets and improve the efficiency of equity release processes. The pilot is part of HKMA's investigation into the potential introduction of a central bank digital currency (CBDC) in Hong Kong, exploring various use cases and design issues.

While HKMA has not made a final decision, the pilot presents an opportunity for collaboration across industries and showcases the adaptability of the HELOC use case in different CBDC issuance models. Learn more about the pilot use case here.

As we wrap up our October review, we look forward to more exciting developments in November. We have launched a pilot for a stablecoin project with HKT, and hosted a networking event with Talos and Galaxy during Hong Kong FinTech Week. November is continuing our momentum, building on these major accomplishments from October. Stay tuned on our upcoming announcements!

Thank you for following our journey this past month - a few more great things to come as we close out the year! In the meantime, stay updated by signing up for our newsletter here.

Till next time. 

The Hex Trust Team

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