Hex Trust Integrates with The Open Network (TON), Pioneering Custody, Staking, and DeFi Services for Web3

HONG KONG, November 21, 2024 — Hex Trust, a fully-licensed provider of institutional-grade digital asset custody, staking, and trading services, has announced its strategic integration with The Open Network (TON). This milestone makes Hex Trust one of the first custodians to support the complete TON ecosystem, offering clients seamless access to TON custody, staking services, and TON DeFi via TON Connect, as well as Jettons custody.

TON: Revolutionizing Web3 and Decentralized Finance

The Open Network (TON), initially developed by the team behind Telegram Messenger, is emerging as a powerful force in the Web3 landscape. Known for its unmatched scalability, TON can process over 104,000 transactions per second, enabling rapid and efficient decentralized applications (dApps). Its advanced sharding technology and multi-chain architecture offer optimal solutions for the growing demand for decentralized services, ensuring that the network can handle large-scale, high-performance applications.

TON’s rapid evolution is significantly propelled by Telegram’s global user base of over 950 million. The integration of a blockchain with such a widely used communication platform gives TON a unique advantage in bridging the gap between social media and blockchain, facilitating adoption and further integration of blockchain technology into everyday digital interactions.

Hex Trust: Empowering Institutional Adoption of TON

As a regulated leader in digital asset custody, Hex Trust enhances the entire lifecycle of managing, securing, and trading digital assets for institutional clients. The integration of TON into its platform now enables Hex Trust clients to securely manage TON tokens, Jettons, and participate in TON's DeFi ecosystem — all within a highly secure and fully integrated environment.

Hex Trust’s clients, which include a broad array of institutions, can now diversify their portfolios with TON assets and engage with a burgeoning decentralized finance (DeFi) market, powered by the high-performance TON blockchain. This partnership also unlocks the potential for institutions to leverage TON's growing DeFi applications, providing access to innovative financial tools and services on a scalable blockchain network.

“We are excited to become a leading custodian for TON,” said Alessio Quaglini, CEO of Hex Trust. “By integrating TON’s innovative ecosystem, we reinforce our shared commitment to driving institutional adoption and expanding access to Web3. We believe this collaboration will empower institutions to capitalize on the promising opportunities offered by the TON network, while ensuring the highest level of security and compliance.”

A Strategic Partnership to Drive TON’s Institutional Adoption

According to Max Pertsovskiy, COO of TON Foundation, “Our collaboration with Hex Trust represents a major leap forward in connecting TON’s high-performance blockchain to the institutional audience. Hex Trust’s robust infrastructure ensures a secure, compliant way for institutions to access TON’s services, including Jettons custody and DeFi solutions. This partnership is integral to TON’s mission of making blockchain technology accessible and usable for businesses and users worldwide, leveraging Telegram’s powerful social ecosystem to drive adoption.”

Unlocking the Future of Digital Asset Custody and DeFi

With this strategic integration, Hex Trust and TON are positioning themselves at the forefront of the Web3 revolution. By providing institutions with a secure, regulated infrastructure to interact with TON's decentralized finance ecosystem, the partnership has the potential to transform the landscape for digital asset management and adoption.

Hex Trust’s suite of services already includes comprehensive custody and staking solutions for a wide range of digital assets. Through its integration with TON, the company is now able to expand its offerings, supporting Jettons—TON’s native digital asset, and facilitating secure participation in TON DeFi applications.

About Hex Trust

Founded in 2018, Hex Trust is a fully licensed, regulated provider of digital asset services, including custody, staking, and markets services. Hex Trust serves a global institutional clientele, offering secure, compliant, and innovative solutions for managing and trading digital assets. Its platform is designed to provide a seamless experience, combining cutting-edge technology with regulatory adherence to support the unique needs of the digital asset ecosystem.

To learn more about Hex Trust, visit hextrust.com or follow them on LinkedIn, X, and Telegram.

About The Open Network (TON)

The Open Network (TON) is a decentralized blockchain ecosystem with the mission of bringing cryptocurrency to every pocket. Initially developed by the Telegram team, TON aims to empower users with control over their digital identities, data, and assets. With a goal of reaching 500 million users by 2028, TON’s innovative blockchain and socially integrated features are reshaping the landscape of Web3.

For more information, visit ton.org.