Hex Trust enhances custody security with PARSIQ partnership
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Hex Trust enhances custody security with PARSIQ partnership 19 April 2021Estonia Reporter: Maddie Saghir
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Digital asset custodian Hex Trust has partnered with PARSIQ, a blockchain monitoring and event tracking service provider, to enhance its custody security.
The partnership will enable PARSIQ to provide PRQ token investors with bank-level security protection to keep their digital assets safe while offering Hex Trust’s clients additional security with enterprise-grade monitoring.
PARSIQ is a ‘reverse-oracle’ blockchain platform that addresses the lack of adequate monitoring and analytics tools in the cryptocurrency ecosystem, Hex Trust explains.
Users can keep tabs on events across different blockchains in real-time and connect those events to any off-chain apps and devices to facilitate different workflows.
The collaboration will allow PARSIQ to use Hex Trust’s proprietary safekeeping solution ‘Hex Safe’ for custody of PARSIQ’s treasury.
Clients will also be able to store their PRQ assets in Hex Trust’s custody vault.
Meanwhile, Hex Trust can leverage PARSIQ’s infrastructure for blockchain transactions and automate internal business processes such as notifications, deposit processing and security monitoring.
“Onboarding a company like Hex Trust and getting custody support for PRQ tokens adds a new level of validity to PARSIQ and underlines just how much security means to us and our holders,” comments Tom Tirman, CEO of PARSIQ.
Alessio Quaglini, co founder and CEO of Hex Trust, states: “We are delighted to have been appointed PARSIQ’s custodian and provide the highest security levels for their digital assets.”
“Teaming up and integrating their transaction monitoring and automation tools into our custody platform will provide added benefits for our clients and improve their overall experience,” Quaglini adds.
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