Hex Trust

Hex Trust Partners With Chainalysis for Its Digital Asset Custody Offering

Hex Trust will adopt the Chainalysis KYT (Know Your Transaction) compliance solution, for real-time transaction monitoring, and Chainalysis Reactor, the investigative tool, for enhanced due diligence.

The partnership aims to add an additional layer to Hex Trust’s compliance features for its proprietary platform, Hex Safe™, providing financial institutions peace of mind for their digital asset transactions.

Hex Trust is a digital asset custodian for the banking sector and the partnership will ensure a compliance-focused custody solution.

Increased demand for cryptocurrencies has managed to create a shift in institutional thinking in order to provide customers with direct access to the digital asset class.

Partnering with custodian services to hold cryptocurrency on their behalf allows financial institutions to test the new offering with fewer resources invested, while also drawing on outside cryptocurrency expertise to increase their chances of success.

Alessio Quaglini, CEO & Co-Founder of Hex Trust, said: “Cryptocurrency and blockchain technology is at the forefront of innovation in the financial services industry, and traditional financial institutions that embrace the change are likely to come out on top- Our partnership with Chainalysis is another testament to Hex Trust’s commitment to providing our clients with the most secure custody solution with a comprehensive compliance-first approach available in the market today.”

Ulisse Dellorto, Managing Director of APAC for Chainalysis, commented: “Chainalysis is thrilled to partner with such a trusted name in digital asset custody. With financial institutions increasingly looking to invest in cryptocurrency, this is the optimal time for trusted partners like Hex Trust to invest in their compliance technology.”

Hex Trust offers trade execution, access liquidy and price discovery, on top of its broad digital asset support which includes cryptocurrencies, security tokens and NFTs.

Chainalysis has recently raised $100 million in a Series D funding with a valuation above the $2 billion mark. The firm helps institutions, governments, and cryptocurrency businesses around the world with data, software, and expertise on sophisticated cryptocurrency crime and money laundering tactics, techniques, and procedures.

The crypto AML specialist has recently partnered with Acuant to gain access to the KYT solution and the graphical investigative software in order to strengthen the Acuant Compliance native cryptocurrency support with Chainalysis’s investigative interface.

Acuant Compliance has native support for cryptocurrencies along with integrated Know Your Customer (KYC), transaction monitoring for fraud prevention and suspicious activity detection, sanctions and PEP screening, case management, and multijurisdictional regulatory filing protects millions of cryptocurrency transactions worldwide.

The firm provides comprehensive AML solutions to more than 50 crypto exchanges and blockchain businesses worldwide.