Review of the Month: August 2021

Review of the Month: August 2021

September 8, 2021

August was another month of traction for Hex Trust as we announced our partnership with Union Bank of the Philippines and our new collaboration with Tezos. On the team side, we continued to expand with several key hires, including Chief Information Security Officer, Shane Read.


Union Bank of the Philippines (UnionBank) has partnered with Hex Trust to enter the digital asset ecosystem. The collaboration will start with Hex Trust providing digital asset custody as an internal service for UnionBank employees, as a pilot run, to prepare for the next stage — a fully commercialized digital asset custody service for the bank’s customers. UnionBank is in full compliance with the Bangko Sentral ng Pilipinas (BSP) in offering this service.

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Hex Trust has announced we have joined the tzBTC ecosystem as keyholders. tzBTC allows users and applications to directly transact in Bitcoin (BTC) on the Tezos blockchain, bringing BTC’s liquidity and brand to the Tezos ecosystem and enabling novel financial use-cases on-chain. Hex Trust and Tangany now join Mt. Pelerin, LEXR, and Inacta as tzBTC keyholders, responsible for the custody, minting, and burning or tzBTC.

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Hex Trust Insights

Ethereum geared up for a system-wide upgrade that will radically change the way the platform is both used and secured. There have been several upgrades over the past five years, intending to improve Ethereum’s usability and scalability. Ethereum 2.0 is a highly anticipated upgrade and is by far the most ambitious and radical change to be implemented in the network and will require several years to fully implement.

On August 4th 2021, Ethereum underwent its 11th upgrade, which is being called the “London Hard Fork”. The update contained five Ethereum Improvement Proposals (EIPs) which aim to optimize the protocol. Here’s what you need to know.

The Growing Hex Trust Team

We are delighted to have onboarded cyber security expert, Shane Read, onto the Hex Trust team. Here is a Q&A tell help you get to know him better.

The growing Hex Trust team is now at over 50 people as we continue to expand. We’re actively hiring, so if you’re interested to join the team visit:

Hex Trust In The Media

CoinDesk: Philippines’ UnionBank Taps Digital Asset Custodian Hex Trust to Pilot Custody Service

Forkast: Union Bank of Philippines partners with Hex Trust to enter digital asset ecosystem

Blockworks: Custodian Hex Trust Launches Digital Assets Pilot With Philippines’ Union Bank Union Bank of Philippines Cooperates with Hex Trust for Promoting Pilot Digital Assets Custody Service

Fintech Hong Kong: Philippines’ Unionbank Partners Hex Trust to Pilot Its Digital Asset Custody Service

Forkast: Why some big investors are diving into DeFi but others are holding back

Forkast: DeFi TVL hits all-time high, breaking past correlation with Ethereum price

Forkast: Solana price hits all-time high as Bitcoin, crypto market dip

Hong Kong Institute of Bankers: Innovative Technologies and Their Reshaping of Securities Trade Settlements

The Block: Mapping out Fenbushi Capital Portfolio

Digital Asset Market News

FTX US to buy LedgerX in a bid for US Crypto Derivatives. The move paves the way for Sam Bankman-Fried’s crypto empire to gain a foothold in the restrictive U.S. derivatives scene.

Bank of Jamaica mints the first batch of national digital currency. The Bank of Jamaica plans to issue a total of $1.5 million of CBDC to institutions and authorized payment service providers as part of a pilot ending this December.

Michael Saylor’s MicroStrategy Buys Another $177M of Bitcoin. The business intelligence firm is buying bitcoin again after a brief lull.

MetaMask surpasses 10M monthly active users, with Philippines and U.S. top users. MetaMask has seen its monthly active users surge over 1,800% in the past year to surpass 10 million, according to ConsenSys.

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