SIA teams up with Hex Trust to offer digital asset services in Europe

By Megha Bhattacharya

SIA has signed a partnership agreement with FinTech Hex Trust in a bid to offer digital asset services to European financial institutions for enabling customers to access new investment opportunities based on blockchain technology. The collaboration will allow banks and financial institutions to manage and safe keep any kind of digital assets. It will also enable the offering of custody services to institutional, private banking and retail clients.

“The collaboration with Hex Trust further strengthens our expertise and primary role in designing and delivering innovative infrastructures for the European financial community. We aim to create an ecosystem where banks can manage their digital assets based on state-of-the-art technologies and comply with their internal procedures and regulatory requirements,” commented Daniele Savarè, Innovation & Business Solutions Director of SIA.

SIA stated that the partnership enables the custody platform to connect financial institutions to digital asset intermediaries within a secure custody framework complying with the most stringent Anti-Money Laundering and Counter-Terrorism Financing regulatory requirements.

Recently, Enel X Financial Services announced a strategic partnership with SIA in a bid to design and develop new mobile banking solutions. Enel X’s customers will now be able to make mobile payments via smartphone.

“This is a critical milestone as SIA and Hex Trust join forces to make a bank-grade solution for digital assets available to European financial institutions. The partnership comes at a key inflexion point in the market where digital assets have become a reality: the banking sector is requiring a clear strategy around them and we are perfectly positioned to support this transformation,” commented Alessio Quaglini, CEO and Co-Founder of Hex Trust.