GCEX Expands Crypto Custody Solutions With New Hex Trust Service

2024-11-27 09:27:57 Primitive Reading

From financemagnates by Damian Chmiel

Digital prime brokerage GCEX has strengthened its partnership with institutional custodian Hex Trust, launching a new “Secured Accounts” service to provide enhanced protection for institutional digital assets in the EU and the UK markets.

GCEX Enhances Asset Security Through Extended Hex Trust Partnership

The new offering builds upon the firms' three-year collaboration, integrating Hex Trust's bank-grade custody infrastructure to deliver segregated asset storage that adheres to regulatory requirements. The service specifically targets hedge funds, asset managers, and brokers seeking institutional-grade security for their digital holdings.

Lars Holst, CEO & Founder, GCEX

“Our Secured Accounts service addresses a critical need for institutional clients by providing a robust mechanism for safeguarding assets, with security as a core priority,” says Lars Holst, CEO at GCEX. “This solution allows clients to manage their digital assets with enhanced reassurance, knowing that our clear, secure processes are in place to protect their assets and enable seamless transfers of control when needed.”

The partnership leverages Hex Trust's custody platform to provide:

Fully segregated asset storage
Regulatory-compliant infrastructure
Seamless transfer control mechanisms
Comprehensive staking services across multiple networks, including ETH, TIA, INJ, and DYM

Hex Trust currently serves over 270 institutional clients through its regulated infrastructure spanning Singapore, Hong Kong, France, and Italy. Most recently, the company entered the Middle East, obtaining Dubai’s crypto license.

Giorgia Pellizzari, Head of Custody at Hex Trust

“We are excited to further strengthen our partnership with GCEX to provide EU and UK institutions with a secure, compliant, and efficient solution for managing their digital assets,” added Giorgia Pellizzari, Head of Custody at Hex Trust. “Our fully licensed, bank-grade custody platform, coupled with our robust security measures, ensures that clients’ assets are protected at all times.”

The two companies' most recent partnership announcement was in June 2023, aimed at expanding staking services following their initial venture in April 2023. GCEX introduced nine new assets for staking, catering to institutional and professional clients. The expanded offering includes Apecoin, Flare, and Ethereum. Additionally, GC Exchange A/S has indicated plans to enhance the list of supported assets further to meet increasing client demand.

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