Digital prime brokerage GCEX and institutional custodian Hex Trust have unveiled a new “Secured Accounts” service, aiming to enhance protection for institutional digital assets in the EU and UK markets.
The development combines Hex Trust’s bank-grade custody infrastructure with GCEX’s expertise in digital asset management to deliver a solution tailored to hedge funds, asset managers, and brokers, according to a report from Finance Magnates.
The “Secured Accounts” service offers fully segregated asset storage that complies with regulatory requirements.
GCEX Taps Hex Trust’s Regulated Custody Platform
The partnership leverages Hex Trust’s regulated custody platform to provide advanced solutions, including infrastructure, staking services across multiple networks such as Ethereum and Injective, and asset transfer mechanisms.
“This service addresses a critical need by safeguarding assets with robust mechanisms, ensuring secure processes, and enabling seamless transfer control when required,” Lars Holst, CEO of GCEX, said.
Hex Trust, which operates across jurisdictions like Singapore, Hong Kong, France, and Italy, recently expanded its reach to the Middle East, obtaining a crypto license in Dubai.
“Our licensed, bank-grade custody platform ensures that EU and UK institutions can manage their digital assets securely and efficiently,” Giorgia Pellizzari, Head of Custody at Hex Trust, said.
The initiative marks the latest in a series of advancements by GCEX and Hex Trust to address the growing demands of institutional clients.
In June 2023, the two companies announced plans to expand staking services, introducing nine new assets, including Ethereum and Apecoin, to their portfolio.
GCEX has also expressed intentions to further broaden its asset offerings in response to increasing client interest.
In addition to its partnership with Hex Trust, GCEX has been actively enhancing its infrastructure.
October saw GCEX launch two new price feeds—XplorSkew and XplorSkewPlus—designed to optimize spreads and improve performance for brokers in the foreign exchange and precious metals markets.
The company also introduced an upgraded market data feed solution, providing real-time access to a wide range of products, from Equity Index CFDs to Spot FX and Crypto CFDs.
Growing Confidence in Crypto Among Financial Advisors
A recent survey conducted by the Digital Assets Council of Financial Professionals (DACFP) and Franklin Templeton Digital Assets reveals a notable shift in the attitudes of financial advisors and their clients toward cryptocurrencies.
The findings indicate increased adoption of digital assets in portfolios and growing recommendations by financial professionals, signaling rising confidence in the asset class.
The Q3 2024 Advisor Pulse Survey gathered insights from 619 financial professionals, 61% of whom serve clients with assets ranging from $500,000 to $3.5 million.
The data show that 19% of advisors now report more than half of their clients hold digital assets, up from 15% in the previous quarter.
Meanwhile, the percentage of advisors with no crypto-owning clients has dropped to just 3%, compared to 8% in Q2.
“These findings underscore a clear shift in how financial advisors view digital assets as part of their clients’ portfolios,” said Ric Edelman, founder of DACFP.
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