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TechTalk
Hex Trust adds Polygon to custody platform
Ethereum scaling solution allows institutional clients to trade, lend, stake Matic tokens
The Asset 15 Jun 2022

Asia-focused digital asset custodian Hex Trust has successfully integrated Polygon, the full-stack scaling solution on ethereum, into its digital asset custody platform Hex Safe, allowing it to offer fully licensed and highly-secure custody for Polygon’s native token (Matic) and to start planning to support non-fungible tokens (NFTs) and the full stack of services built on Polygon.

The integration enables Hex Trust’s 200-plus institutional clients to be able to trade, lend, and stake Polygon tokens, all without needing them to send their assets outside of the secure custody of its platform.

Polygon is the first well-structured, easy-to-use platform for ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting two major types of solutions  secured chains (layer-2 blockchains) and stand-alone chains (sidechains).

Polygon transforms ethereum into a full-fledged multi-chain system or internet of blockchains, and this multi-chain system is able to fully benefit from ethereum’s network effects, is more secure, and more open and powerful, primarily in terms of the architecture types it can support.

“We have a multi-chain vision for the digital asset industry, where digital assets, no matter what chain they're on, are seamlessly available on our universal custody platform,” says Giorgia Pellizzari, head of custody at Hex Trust. “Polygon's highly-scalable approach makes it appealing and easily accessible for both institutional and retail clients alike, especially with their adherence to compliance and regulation.”

The company says it will be working closely with Polygon moving forwards as institutions continue to enter the digital asset economy, actively participate in the decentralized finance ecosystem and use NFTs in the metaverse and Web3 space.

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