GCEX, a digital prime brokerage, and Hex Trust, an institutional custodian, have jointly introduced a new “Secured Accounts” service. The service is designed to improve the protection of institutional digital assets in the EU and UK markets.
A report from Finance Magnates says that the new project combines GCEX’s knowledge of managing digital assets with Hex Trust’s bank-grade custodial infrastructure to create a perfect solution for hedge funds, asset managers, and brokers.
The “Secured Accounts” service provides entirely segregated asset storage that adheres to regulatory standards.
GCEX Taps Hex Trust’s Regulated Custody Platform
GCEX utilizes the regulated custody platform. Hex Trust’s regulated custody platform is used by the partnership to provide advanced services such as infrastructure, staking services on multiple networks such as Ethereum and Injective, and ways to transfer assets.
Lars Holst, CEO of GCEX, stated that this service serves a critical need by ensuring secure processes, safeguarding assets with resilient mechanisms, and facilitating seamless transfer control when necessary.
Hex Trust, which operates in Singapore, Hong Kong, France, and Italy, has recently expanded its operations to the Middle East by acquiring a crypto license in Dubai.
Giorgia Pellizzari, Head of Custody at Hex Trust, stated, “Our bank-grade custody platform is licensed to guarantee that EU and UK institutions can manage their digital assets securely and efficiently.”
The initiative is the most recent in a series of developments by GCEX and Hex Trust to meet the increasing needs of institutional clients.
In June 2023, the two companies disclosed their intention to broaden their staking services by incorporating nine new assets into their portfolio, including Ethereum and Apecoin.
In response to the growing interest of its clients, GCEX has also indicated its intention to expand its asset offerings.
In addition to collaborating with Hex Trust, GCEX has been diligently improving its infrastructure.
In October, GCEX introduced two new price channels, XplorSkew and XplorSkewPlus, developed to enhance brokers’ performance in the foreign exchange and precious metals markets by optimizing price spreads.
The company also implemented an enhanced market data feed solution that offers real-time access to diverse products, including equity Index CFDs, spot FX, and crypto CFDs.
Financial Advisors’ Increasing Belief in Cryptocurrency
The Digital Assets Council of Financial Professionals (DACFP) and Franklin Templeton Digital Assets recently conducted a survey indicating a significant change in financial advisors’ and clients’ attitudes toward cryptocurrencies.
The results suggest that financial professionals are growing more confident in the asset class, as evidenced by the increased adoption of digital assets in portfolios and the expanding number of recommendations.
The Q3 2024 Advisor Pulse Survey collected insights from 619 financial professionals, 61% of whom serve clients with assets ranging from $500,000 to $3.5 million.
The data indicates that 19% of advisors now report that over half of their clients possess digital assets, a significant increase from 15% in the previous quarter.
In the interim, the proportion of advisors who do not have clients who own crypto has decreased to 3%, a significant decrease from the 8% reported in Q2.
Ric Edelman, the founder of DACFP, stated, “These findings underscore a significant change in the way financial advisors perceive digital assets as components of their clients’ portfolios.”
