Analysis News TheBitTimes.com

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 ...

Stacks, the largest Bitcoin layer-2 network, is on the verge of a transformative upgrade known as Nakamoto. As the Nakamoto upgrade approaches, Stacks’ native token, STX, currently trading at $1.80, is up 68% from its August lows. Scheduled to begin this week, the Nakamoto upgrade promises to be a pivotal event for the platform, heralding significant changes in transaction efficiency and expanding use cases. Stacks Nakamoto upgrade The Stacks Nakamoto upgrade is set to drastically reduce average transaction times from 10 minutes to mere seconds. Such a leap in efficiency opens the door to a range of new applications, including the creation and utilization of liquid stacking tokens. These tokens can now be seamlessly integrated into Decentralized Finance (DeFi) platforms, allowing users to deposit, borrow, and leverage liquidity with greater ease. In conclusion, the Nakamoto upgrade will facilitate the: • Interaction with DeFi apps in seconds ...