New Developments in Digital Asset Management and Custody 🌐
This year has witnessed significant advancements in the realm of digital asset custody, particularly with the introduction of a new service called “Secured Accounts.” This initiative is the result of a collaboration between GCEX, a digital prime brokerage, and Hex Trust, an institutional custodian. The primary objective is to bolster the protection of institutional digital assets across the UK and EU markets.
Enhanced Security Solutions for Institutional Clients 🔒
The newly launched Secured Accounts service harnesses Hex Trust’s robust custody framework while integrating GCEX’s proficiency in digital asset management. This service is particularly crafted for hedge funds, asset managers, and brokers, as outlined in a recent report.
- This service ensures:
- Fully segregated storage of assets that adheres to regulatory standards.
Strategic Partnership for Advanced Custody Services 🤝
By utilizing Hex Trust’s regulated custody platform, the partnership aims to deliver a diverse set of advanced solutions. These solutions include:
- Support for staking services across several networks such as Ethereum and Injective.
- Efficient mechanisms for asset transfers.
Lars Holst, CEO of GCEX, emphasized the significance of this service, stating that it fulfills a critical demand for securing assets through strong mechanisms that ensure secure procedures and allow for smooth transfer control when necessary.
Expanding Reach in the Crypto Landscape 🌍
Hex Trust, which operates in various jurisdictions, including Singapore, Hong Kong, France, and Italy, recently broadened its influence by obtaining a crypto license in Dubai, marking its entry into the Middle Eastern market. This strategic move further solidifies their global footprint.
Giorgia Pellizzari, who leads custody operations at Hex Trust, reiterated the importance of their licensed custody platform, assuring that existing institutions in the EU and UK can manage their digital assets securely and effectively.
Momentum in Institutional Adoption 📈
This year has also seen GCEX and Hex Trust making strides to meet the escalating demands of institutional clients. Back in June 2023, the two entities revealed plans to enhance their staking services, introducing a range of nine new assets, including notable cryptocurrencies like Ethereum and Apecoin.
GCEX has expressed its ambitions to broaden its asset selection further, indicating a robust response to growing client interest in diversified investment opportunities.
Improving Infrastructure and Data Solutions ⚙️
In line with its efforts to refine service offerings, GCEX recently launched two innovative price feed solutions—XplorSkew and XplorSkewPlus. These new tools are designed to improve spread optimization and performance for brokers in foreign exchange and precious metals markets. Additionally, they have rolled out an upgraded market data feed solution, providing real-time access to a variety of products that range from Equity Index CFDs to Spot FX and Crypto CFDs.
Shifting Perspectives Among Financial Advisors 🔍
The Q3 2024 Advisor Pulse Survey collected insights from 619 financial professionals, highlighting:
- 61% of respondents serve clients with assets ranging from $500,000 to $3.5 million.
- 19% of financial advisors now report that over half of their clients hold digital assets, an increase from 15% in the previous quarter.
- Only 3% of advisors now report having no clients with cryptocurrency holdings, down from 8% in the previous quarter.
Ric Edelman, the founder of DACFP, asserted that these findings point to a definite transformation in how financial advisors perceive digital assets, viewing them increasingly as integral components of their clients’ investment strategies.
Hot Take: New Horizons for Digital Assets Ahead 🔮
As you navigate the evolving landscape of digital assets, the collaboration between institutions like GCEX and Hex Trust represents just one facet of a rapidly evolving sector. With increased institutional adoption and growing confidence among financial professionals, this year stands to redefine the role of digital assets within investment portfolios, encouraging a broader acceptance and integration into mainstream finance.
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