Blockchain
Hex Trust Receives Strategic Investment From Leading Asia Blockchain Firm, Kenetic
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.”
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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