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Digital Custody Provider Hex Trust Teams Up With PARSIQ To Strengthen Custody Security

Digital Custody Provider Hex Trust Teams Up With PARSIQ To Strengthen Custody Security

Hex Trust, Hong Kong-based digital custodian, has partnered with blockchain monitoring and workflow automation platform PARSIQ. Hex Trust will be PARSIQ’s custodian for their digital assets and treasury reserves.  Hex Trust’s clients gain additional security with enterprise-grade monitoring. 

The Hex team announced the partnership on Twitter:

Hex Trust has partnered with @parsiq_net, a #blockchain monitoring and event tracking service provider which recently received funding support from @binance.”

Hex Trust will integrate PARSIQ’s native token, $PRQ, into its custody platform, Hex Safe™.

Hex To Leverage PARSIQ Onto Custody Platform

Hex Trust will integrate PARSIQ’s blockchain monitoring and workflow automation platform into Hex Safe™. This will allow Hex to leverage its infrastructure for crypto transactions and automate internal business processes such as notifications, deposit processing, and security monitoring. 

Alessio Quaglini, CEO and Cofounder of Hex Trust, stated:

We’re delighted to have been appointed PARSIQ’s custodian and provide the highest levels of security for their digital assets. Integrating their transaction monitoring and automation tools within our custody platform, will provide added benefits for our clients and improve their overall experience.

About PARSIQ

PARSIQ is a “reverse-oracle” blockchain platform. It addresses the lack of adequate monitoring and analytics tools in the cryptocurrency ecosystem. It was listed on the OKEx cryptocurrency exchange since the beginning of this year. 

Users of PARSIQ can keep track of events across different blockchains in real-time. They can also connect the events to off-chain apps and devices to facilitate different workflows. Tom Tirman, CEO of PARSIQ, stated:

Onboarding a company like Hex Trust and getting custody support for PRQ tokens adds a new level of validity to PARSIQ and underlines just how much security means to us and our holders.

PARSIQ is one of the projects supported by Binance’s $100 million Accelerator Fund. With Binance integrating PARSIQ, blockchain developers can use specific tools to reduce the complexity of building monitoring solutions, save development resources, reduce infrastructure costs, etc.

About Hex Trust

Hex Trust is by innovators from the institutional financial services space and has built a platform that delivers a modern custody solution for banks, financial institutions, asset managers, and corporations. It also allows them to operate safely and efficiently in the blockchain ecosystem.

Hex Trust has a business partnership and product integration with IBM, providing custody and settlement solution for banking and financial institutions. Hex Trust is headquartered in Hong Kong. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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