HONG KONG, Aug. 13, 2020 /PRNewswire/ -- Hex Trust, Asia's leading digital asset custodian and infrastructure platform for the banking sector, has announced that Kenetic, one of Asia's leading blockchain investment firms, has invested in Hex Trust. Jehan Chu, Co-founder & Managing Partner of Kenetic, will also join Hex Trust's Board of Directors.
The funding will be used to enhance the bank-grade infrastructure platform and position Hex Trust to scale as Asia's leading digital asset custodian and the leading turnkey solution for banks and financial institutions to enter the digital asset ecosystem.
The fully licensed and insured platform, Hex Safe, provides compliance-focused custody designed to meet the rigorous requirements of highly regulated financial institutions. Hex Safe has been developed with an integration layer which seamlessly connects with third-party platforms in the industry such as exchanges, OTCs, lending and staking platforms.
Hex Trust has secured three milestone banking clients in Asia and Europe along with clients in the digital asset ecosystem such as exchanges, investment funds and family offices. Notable partnerships include a global partnership with IBM and R3, as the first custodian to integrate Corda.
Hex Trust has assembled a world-class team of veteran technologists and banking experts. The 25+ person team has substantial experience and previously built institutional technology platforms and securities businesses for the likes of HSBC, Standard Chartered, CLSA, and Bloomberg. Key Hex Trust team members include Ex-HSBC Global Head of Custody, Ex-CEO Standard Chartered Japan, Ex-COO Credit Suisse APAC, and Ex-CIO & Ex-CTO of CLSA.
Kenetic is an early pioneer of digital asset investments and one of the leading blockchain-focused investment firms in Asia. With extensive experience in the digital asset space and investments in over 130 leading blockchain companies globally, Kenetic is a key pillar of Asia's blockchain industry.
Jehan Chu, Co-founder & Managing Partner of Kenetic
Jehan Chu has been a pioneer in the digital asset space in Asia since 2013. He founded the Ethereum Hong Kong meetup in 2014, is the Founding co-Chairman of the Fintech Association of Hong Kong Blockchain Committee, Regional Head of the Interwork Alliance, co-Founder of Social Alpha Foundation, and a Kauffman Fellow. Jehan joins the Board of Directors to bring his industry knowledge and network to help Hex Trust scale its enterprise adoption.
Jehan commented: "We are thrilled to join Hex Trust on their mission to bring banks and financial institutions into the digital asset age. Digital assets will transform capital markets and facilitate the greatest economic expansion the world has seen in a century, and we believe experienced teams like Hex Trust are positioned to capture the Asian Market."
Alessio Quaglini, Co-founder & CEO of Hex Trust commented: "The key to success for Hex Trust is a combination of knowledge and experience in both traditional finance and the digital assets space. Jehan brings to Hex Trust invaluable expertise and an extensive network to connect Hex Trust with the key players and biggest projects in the digital asset ecosystem. The investment from Kenetic and the active participation of Jehan arrives in an important moment during our growth phase at Hex Trust, as we integrate additional services, onboard new clients and expand geographically."
About Hex Trust
Hex Trust is the leading digital asset custodian for the banking sector. Headquartered in Asia, the platform—Hex Safe - provides a compliance-focused custody infrastructure, deployment flexibility, and seamless integration with third-party service providers in the ecosystem such as exchanges, OTCs, lending and staking platforms.
Kenetic, founded in 2016, is one of Asia's earliest blockchain investment firms, committed to expanding the development and adoption of blockchain technology through investments, markets and trading. Kenetic takes an enterprise-first growth strategy and works with startups, financial institutions and the blockchain community at large to drive growth and efficiency in building the internet of tomorrow.
SOURCE Hex Trust