Hex Trust & Parsiq: collaboration to enhance digital asset custody security

17 Apr, 2021

Hex Trust, Asia`s leading digital asset custodian, has entered into a new strategic partnership with PARSIQ, a blockchain monitoring and event tracking service provider. While keeping Parsiq’s PRQ tokens safe, the collaboration also offers Hex Trust’s clients additional security with enterprise-grade monitoring.

PARSIQ is a “reverse-oracle” blockchain platform that addresses the lack of adequate monitoring and analytics tools in the cryptocurrency ecosystem. Users can keep tabs on events across different blockchains in real-time and connect those events to any off-chain apps and devices to facilitate different workflows. The deal is a win-win for both stakeholders. Hex Trust can leverage PARSIQ’s infrastructure for blockchain transactions and automate internal business processes such as notifications, deposit processing and security monitoring.

“We are delighted to have been appointed PARSIQ’s custodian and provide the highest security levels for their digital assets. Teaming up and integrating their transaction monitoring and automation tools into our custody platform will provide added benefits for our clients and improve their overall experience,” said Alessio Quaglini, co-founder and CEO of Hex Trust.

The collaboration between PARSIQ and Hex Trust is another significant step toward realizing the company’s vision to operate a safe cryptocurrency platform that meets the strictest global regulatory requirements. It will allow PARSIQ to use Hex Trust’s proprietary safekeeping solution “Hex Safe” for custody of PARSIQ’s treasury. In addition, clients will be able to store their PRQ assets in Hex Trust’s custody vault.

“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,” Tom Tirman, CEO of PARSIQ added.

Source: Press release

 

Earlier this month, Hex Trust has closed a multi-million dollar funding round led by QBN Capital. For more news from the crypto space, please visit our news section.

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