Hex Trust Integrates Etherlink, Adds Custody for Tokenized Uranium Asset xU3O8
Hex Trust, a leading provider of certified custody services for tokenized assets, has announced the integration of Etherlink, an EVM-compatible Layer 2 network built on Tezos. This integration includes the addition of custody services for xU3O8, a tokenized uranium asset issued on the Etherlink network. The move is set to enhance institutional access to tokenized commodities and further solidify Hex Trust’s position in the digital asset custody space.
Expanding Institutional Access to Tokenized Commodities
By partnering with Trilitech, the R&D adoption center for Tezos and the developer of Etherlink, Hex Trust aims to provide institutional customers with secure custody solutions for assets on the Etherlink network. The xU3O8 token, which represents ownership of uranium and is traded on multiple exchanges, offers on-chain exposure to a commodity traditionally limited to specialized markets. This integration not only expands Hex Trust’s custody services but also bridges the gap between traditional markets and blockchain-based assets.
Giorgia Pellizzari, Head of Custody at Hex Trust, emphasized the growing institutional interest in tokenized commodities, stating, “Tokenized assets like uranium are garnering attention as more real-world assets transition to blockchain platforms. The integration of Etherlink underscores our commitment to the Tezos ecosystem and reinforces our dedication to providing secure custody solutions for institutions navigating the evolving landscape of asset tokenization.”
Ben Elvidge, Head of Commercial Applications at Trilitech, expressed enthusiasm about Hex Trust’s support for xU3O8, highlighting the significance of leveraging blockchain technology to facilitate access to traditionally illiquid assets like uranium. Elvidge noted that Hex Trust’s regulatory compliance and custodial services play a vital role in enabling organizations to engage with such assets effectively.
Regulatory Milestones and Market Expansion
Hex Trust recently obtained a Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS), further solidifying its regulatory standing and commitment to delivering compliant digital asset services to accredited and institutional clients. This achievement follows the granting of a full Virtual Asset Company license in Dubai, positioning Hex Trust as a comprehensive provider of custody, over-the-counter trading, and settlement services with fiat on and off ramps.
In addition to regulatory milestones, Hex Trust expanded its market offerings by acquiring Byte Trading, enhancing its capabilities in institutional markets and prime services. This strategic acquisition enables Hex Trust to offer a fully institutional markets and execution platform, reinforcing its position as a leading digital asset financial institution. The move aligns with Hex Trust’s strategic growth plans for 2025, following the successful launch of its E-Trading platform in late 2024.
Hex Trust’s recent funding round, led by Morgan Creek Digital and supported by global investors like Injective, has provided the company with over $100 million in total funding. This investment is earmarked for advancing Hex Trust’s staking and markets services, along with potential strategic acquisitions, further positioning the company for growth and innovation in the digital asset space.
