Sia and the fintech Hex Trust have signed a collaboration agreement to provide European financial institutions with digital finance services to allow their clients to access new investment opportunities based on ‘blockchain’ technology. It is read in a note which states that “through an advanced technological platform, Sia and Hex Trust will allow banks and financial institutions to manage and store any type of digital asset”. These include ‘security and utility tokens’, central bank digital currencies and central bank digital currencies and ‘stablecoin’ cryptocurrencies, created on different ‘blockchain’ protocols.
Through the platform, financial institutions will be able to “offer their private, retail and institutional customers custody services with the highest levels of security, control and scalability”. The platform covered by the blockchain agreement also connects financial institutions to digital asset intermediaries such as exchanges, brokers and lending platforms, respecting the “most stringent regulatory requirements on anti-money laundering and the fight against terrorist financing”.
