$5 billion AUC Hex Trust expands institutional support for Stacks (STX) and sBTC
Hex Trust, a Hong Kong-based digital asset firm that offers institutional-grade custody, staking, and trading solutions, has announced expanded support for Stacks (STX), a leading layer-2 (L2) Bitcoin (BTC) network, as well as sBTC, Stacks’ decentralized asset based on Bitcoin, per information shared with Finbold on Thursday, April 10. Already a partner of the Stacks Asia Foundation, the Hex Trust, which maintains $5 billion in assets under custody (AUC), aims to integrate Stacks-based assets and implement on-ramps to Stacks DeFi applications. The trust is licensed in key markets on the continent, including Hong Kong, Singapore, and Dubai, making it uniquely positioned to meet the institutional demand in these markets, where holdings tend to be highly concentrated. Giorgia Pellizzari, Hex Trust’s Head of Custody, reflecting on recent developments, stated that: “The explosive adoption of sBTC by top-tier institutions reflects its transformative potential to unlock ...