Hex Trust Partners To Integrate Stacks For DeFi Apps

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As a seasoned crypto investor with roots deeply entrenched in the dynamic Asian market, I find this partnership between Hex Trust and the Stacks Asia Foundation particularly intriguing. With my years of experience under the belt, I’ve witnessed the transformative power of strategic collaborations in this ever-evolving landscape.

Hex Trust, a company offering digital asset custody and market services, has teamed up with the Stacks Asia Foundation to facilitate the use of the Stacks network and any assets built upon it within their service platform.

Hex Trust intends to run their own Stacks Signer, provide Stacking services, and is preparing to integrate on-ramps for Stacks Decentralized Finance (DeFi) applications once the WalletConnect feature is accessible.

A key first action involves adopting SIP-010, a universal protocol for token transactions on the Stacks platform, thereby facilitating smoother transfers and monitoring of these tokens across various applications.

his integration strengthens Hex Trust’s presence in Asia and the Middle East, where it holds regulatory licenses in Hong Kong, Singapore, and Dubai. 

Kyle Ellicott, Executive Director at the Stacks Asia Foundation, comments, “Hex Trust’s backing of Stacks opens up numerous possibilities for institutional investors within our region. As an established and renowned custodian across greater Asia and the Middle East, Hex Trust serves as a crucial conduit for the Stacks Ecosystem to grow and penetrate the world’s most dynamic markets.

Hex Trust’s endorsement of Stacks suggests that the Stacks blockchain is experiencing increasing acceptance among institutional investors not only in Asia but globally, with over $5 billion worth of assets under their management and a clientele of more than 300 institutions.

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2024-10-29 17:19