A new service from digital prime brokerage GCEX and institutional custodian Hex Trust offers expanded protections to institutional digital asset investors in the European Union and the United Kingdom.
The new service is Hex Trust’s bank-grade custody platform, brought to you by GCEX’s experience in digital asset management, announced today. Finance Magnates reported that the “Secured Accounts” feature is pitched at hedge funds, asset managers, and brokers and includes fully segregated asset storage that meets regulatory requirements.
Hex Trust’s partnership with Huobi Pool relies on Hex Trust’s regulated custody infrastructure to offer services ranging from staking across several chains, including Ethereum and Injective, to asset transfer mechanisms.
Lars Holst, CEO of GCEX, said, ‘This service fulfills a critical gap’ by safeguarding assets with robust mechanisms, providing secure processes, and allowing for seamless control transfer capability, as needed.
This week, Hex Trust, which runs sites in key geographies including Singapore, Hong Kong, and France, has extended its reach with a crypto license in Dubai.
🚀 We’re thrilled to extend our partnership with @GCEX_Official to introduce a Secured Accounts service. Leveraging Hex Trust’s institutional-grade custody platform, GCEX will ensure full asset segregation & compliance with EU & UK regulatory standards 🔒
Learn more… pic.twitter.com/9vsSTq4ian
— Hex Trust (@Hex_Trust) November 25, 2024
Giorgia Pellizzari, Head of Custody at Hex Trust, said, ‘ Our bank-grade licensed custody platform means EU and UK institutions can have secure and efficient lives in digital assets.’
GCEX and Hex Trust Expand Offerings to Meet Growing User Demands
This is the latest evolution in a wave of new developments that take account of rising user requirements. In June, GCEX and Hex Trust introduced staking services to include nine additional assets, including Ethereum and Apecoin, an altcoin developed by the Bored Ape Yacht Club community.
In addition, GCEX is working to put its infrastructure in place to support an expanded asset offering. At the end of October, the company started offering XplorSkew and XplorSkew Plus, two price feeds it claims can assist Forex and precious metals brokers benefit from their spreads. In addition to the market data feed solution, it announced new solutions for real-time access to a broad range of products, such as Equity Index CFDs, Spot FX, and Crypto CFDs.
‘Secured Accounts’ is evidence of the growing confidence of financial professionals in the digital assets space. The Digital Assets Council of Financial Professionals (DACFP) and Franklin Templeton Digital Assets had seen more cryptocurrency in portfolios in a recent Q3 2024 Advisor Pulse Survey survey.
Fewer than 20 percent of the financial advisors said they have more than half their clients.
Digital assets were up from 15% in the previous quarter. Meanwhile, advisors who don’t have crypto-owning clients saw their tally drop to 3% compared to 8% in Q2.
“This further underscores a clear shift in how financial advisors think about digital assets as part of their clients’ portfolios,” said Ric Edelman, founder of DACFP.
The march towards institutional adoption of digital assets is speeding up, so GCEX and Hex Trust have launched ‘Secured Accounts’ to provide investors with security and compliance. The partnership plans to establish new intellectual property and standards for institutional digital asset management in the EU and UK markets through cutting-edge custody solutions and a compliance focus.
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