Hex Trust partners with Stacks Asia Foundation to integrate Stacks and provide onboarding solutions for its DeFi applications

Author: Hex Trust

Compiled by: TechFlow

Hex Trust, a leading licensed digital asset custody and market services provider, today announced a partnership with the Stacks Asia Foundation. This collaboration will enable support for the Stacks layer and all assets built on Stacks across its custody platform. Hex Trust will also operate its own Stacks Signer, joining a select group of industry-leading companies, and offer Stacking services. Additionally, plans are underway to introduce deposit channels for Stacks DeFi applications once WalletConnect support is implemented. Initial efforts will include supporting SIP-010, the standard for creating and managing fungible tokens on the Stacks blockchain, enabling seamless transfer, tracking, and use across applications.

This integration aligns with Hex Trust’s strong presence in Asia and the Middle East, where the company holds regulatory licenses in Hong Kong, Singapore (IPA), and Dubai, while complementing the recently established Stacks Asia Foundation. The partnership marks a significant milestone in Hex Trust’s expansion into the rapidly growing Bitcoin Layer-2 ecosystem.

Managing over $5 billion in assets and serving more than 300 institutional clients—including prominent names from both Web2 and Web3—Hex Trust’s support for Stacks underscores the growing institutional adoption and accessibility of the Stacks blockchain in Asia and globally.

Kyle Ellicott, Executive Director of the Stacks Asia Foundation, said: “Hex Trust’s support for Stacks creates significant opportunities for institutional investors in the region. As a long-standing leading custodian in Greater Asia and the Middle East, Hex Trust provides a crucial gateway for the Stacks ecosystem to expand further into some of the world’s most transformative markets.”

Calvin Shen, Chief Commercial Officer at Hex Trust, added: “Our collaboration with the Stacks Asia Foundation aims to enhance our institutional clients’ capabilities in Bitcoin finance. This strategic move allows us to support Stacks and its rapidly expanding global developer ecosystem, helping its protocols reach new markets.”

Hex Trust is the first partner announced as part of the Stacks Foundation’s “Best and the Brightest” initiative, which brings together leaders across key categories in the Bitcoin space who support sBTC—the highly anticipated fully programmable Bitcoin solution from Stacks. For updates on the “Best and the Brightest” partnerships, follow @StacksOrg on X.

About Hex Trust

Founded in 2018, Hex Trust specializes in regulated, institutional-grade custody, staking, and market services for developers, investors, and service providers. Built on a proprietary end-to-end integrated infrastructure, we deliver a comprehensive suite of secure and compliant solutions. For more information, visit Hextrust.com or follow us on LinkedIn, X, and Telegram.

Disclaimer: Products or services mentioned in this article are subject to legal and regulatory requirements in applicable jurisdictions and may not be available in all regions or to all users.

About Stacks

Stacks is a Layer-2 protocol for Bitcoin that enables smart contracts and decentralized applications to leverage Bitcoin as a secure base layer. Upcoming Nakamoto and sBTC releases in 2024 will bring faster transaction speeds and full finality secured by Bitcoin. Currently the leading Bitcoin L2 in terms of developer activity and market capitalization, Stacks aims to transform Bitcoin and its $500 billion in dormant capital into fully programmable productive assets. The Stacks (STX) token, used as “fuel” on the Layer-2, was the first token to achieve a qualified sale under SEC regulations in the United States. The project achieved clear decentralization upon mainnet launch in 2021. Today, the Stacks ecosystem includes over 30 contributing entities, such as the non-profit Stacks Foundation, developer tooling company Hiro, Xverse, Trust Machines, Mechanism, Bitcoin L2 Labs, ALEX, and Bitcoin Frontier Fund.

Contact

MarketAcross [email protected]