Hex Trust, a regulated institutional-grade crypto-asset custodian, today announced it has partnered with The Sandbox, a leading decentralized gaming virtual world to enable fully-licensed and highly-secure custody of assets such as LAND in The Sandbox’s metaverse.
The partnership sees Hex Trust fully integrate LAND into its custody platform, Hex Safe, which supports cryptocurrencies, security tokens, and NFTs. The Sandbox has added Hex Trust as a certified partner to its directory list for custody services.
“We are always on the lookout to provide new ways to secure our community’s digital assets and bring peace of mind to The Sandbox’s community. After working with Hex Trust for the past few months, we are very excited to formally establish a partnership to further integrate their services into the metaverse.”
– Sebastien Borget, COO & Co-Founder of The Sandbox
This integration enables institutional investors, brands, and corporations to store LAND assets with Hex Trust, instead of having to store these valuable virtual land assets in online hot wallets exposed to security and hacking risks.
Besides providing custody services for LAND, Hex Trust provides services to buy and sell LAND, as well as financing solutions, including leasing LAND assets and virtual mortgages. Hex Trust entered The Sandbox’s metaverse in 2022 and purchased an Estate in the ‘Web3 Zone’.
“Hex Trust and The Sandbox have been working closely together over the last few months following the launch of our NFT custody services back in early 2020. It’s great to solidify our relationship with a certified partnership, continuing to provide the best-in-class custody services for assets in the metaverse to meet increasing institutional demand. As web3 continues to grow, more brands and investors will need highly-secure solutions provided by custodians to store their assets with peace of mind in a fully-compliant manner.”
– Alessio Quaglini, CEO & Co-Founder of Hex Trust
SAND is The Sandbox utility token, SAND is used to buy LAND, ASSETS, or to invest in staking pools.
Source: https://www.cryptoninjas.net/2023/05/10/the-sandbox-teams-with-hex-trust-to-enable-licensed-and-secure-custody-of-its-virtual-assets/