Linear Finance appoints Hex Trust as custody partner to drive institutional adoption in DeFi

Linear Finance appoints Hex Trust as custody partner to drive institutional adoption in DeFi

Sep 29, 2020 · 3 min read · cat

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Linear Finance, a cross-chain compatible, decentralized delta-one asset protocol, has announced a custody partnership with Hex Trust, the leading digital asset custodian for institutions entering DeFi. Hex Trust will provide a custody solution with a consensus-based approval mechanism for Linear Finance.

The collaboration will also enable Hex Trust to integrate LINA into it’s fully licensed and insured institutional-grade custody platform, Hex Safe, ensuring institutional clients (banks, financial institutions, investment funds, asset managers, and exchanges) can safely and securely hold LINA tokens. Hex Trust has a global institutional client base including three milestone banking clients in Asia and Europe.

Linear Finance recently completed their seed funding round from industry leading blockchain investors including NGC Ventures, Hashed, CMS Holdings, Genesis Block, Kenetic Capital and Alameda Research. Linear Finance is the first cross-chain compatible, decentralized synthetic asset exchange with creative investable synthetic assets, unlimited liquidity, and no slippage. Linear Finance uses cross-chain integration as an imminent L2 solution to scaling/high gas fees. As a result, it is fast, easy, cost-effective, safe, and ready to use for all users, ranging from new digital asset entrants, experienced crypto traders, and institutional investors.

Many institutional investors are eagerly waiting to enter the DeFi ecosystem, especially as the traditional financial markets are currently offering low-interest rates. However, for institutional investor participation, there must be custody platforms that can seamlessly integrate and provide this access to DeFi.

Hex Trust’s open finance architecture allows clients to access a variety of DeFi protocols, decentralized exchanges, CeFi intermediaries and service providers within its secure custody platform. Hex Trust is fully licensed and in global partnership with IBM provides an industry-leading security framework. Digital assets held with Hex Trust are further covered by comprehensive insurance arranged by Aon.

Alessio Quaglini, CEO and Co-founder of Hex Trust

“One of our missions at Hex Trust is to provide a gateway for institutions to enter DeFi and the digital asset ecosystem. We work hard to identify the most promising projects to support and integrate, and Linear Finance was one of them. Hex Trust is here to ensure their digital assets have the highest level of protection and to provide an added level of comfort and trust to their ecosystem by mitigating any potential security risks. This is the first step of collaboration with Linear as we are currently exploring integration opportunities which will open up staking and governance functionalities for our Hex Trust clients.”

Kevin Tai, Cofounder of Linear Finance

“Linear Finance’s vision is to democratize investments assets to all users. The integration of a secure gateway built by Hex Trust will allow institutional clients to access LINA and our synthetic assets in the near future, facilitating institutional inclusion into DeFi. Hex Trust has the highest level of security for a range of wallets and digital assets, and also the flexibility to customise to specific requirements and our needs, supporting Linear Finance in the long term.”

About Hex Trust

Hex Trust is the leading digital asset custodian for the banking sector and institutions entering the DeFi and the digital asset ecosystem. Headquartered in Asia, the platform — Hex Safe, provides compliance-focused custody infrastructure, deployment flexibility, and seamless integration with third-party service providers in the ecosystem such as exchanges, OTCs, and lending and staking platforms. Hex Trust has built a team of veteran technologists and banking experts and is backed by one of Asia’s leading blockchain firms, Kenetic.

About Linear Finance

Linear Finance is the first cross-chain compatible, decentralized delta-one asset protocol to create, trade, and manage synthetic assets (Liquids). Linear Finance is a faster, cheaper, safer, and easier to use alternative compared to other synthetic asset protocols, coupled with access to a wealth of creative investment assets.