Hex Trust, a regulated digital asset financial institution, has partnered with Fireblocks, an enterprise infrastructure provider for digital asset custody, settlement, trading operations, and stablecoin payments.
The partnership integrates Hex Trust into the Fireblocks Custody Network as a key Qualified Custodian, reinforcing both firms’ ability to support rising institutional demand for compliant digital asset services across the Asia-Pacific and Middle East regions. The arrangement leverages Hex Trust’s multi-jurisdictional licensing framework and institutional-grade custody infrastructure to meet evolving regulatory requirements.
Rising regulatory standards and institutional requirements
Digital asset markets continue to mature, with the total cryptocurrency market capitalisation surpassing an estimated USD 3.5 trillion. Bitcoin alone accounts for more than USD 2 trillion, and Ethereum consistently maintains a market cap above USD 400 billion. Daily global trading volumes regularly exceed USD 150 billion, while stablecoin transactions now account for roughly USD 2 trillion in monthly on-chain settlement. As market scale increases, institutional participation has accelerated, particularly in regions such as Hong Kong, Singapore, and the UAE, where regulatory regimes around custody have become more stringent.
Regulators in several key financial centres are heightening expectations for custody arrangements. In Hong Kong, the Securities and Futures Commission (SFC) has urged Virtual Asset Trading Platforms to improve custody risk management, increase operational transparency, and adopt more robust segregation practices. In the UAE, virtual asset service providers must comply with detailed safeguarding requirements under the Virtual Assets Regulatory Authority (VARA). Across these jurisdictions, licensed custodians are increasingly viewed as essential components of institutional-grade digital asset infrastructure.
Moreover, institutional demand for regulated custody has risen sharply. An EY survey indicates that more than half of the financial institutions interviewed plan to increase digital asset exposure over the next three years. By integrating Hex Trust into the Fireblocks Custody Network, institutions gain a unified entry point that aligns enterprise-grade infrastructure with licensed custody coverage across multiple markets. The collaboration is expected to simplify compliance, reduce operational friction, and improve access to regulated services, including custody, staking, and market execution.
