Hong Kong-based fintech company IDA has chosen Hex Trust to provide custody services for its stablecoin products, enabling compliant and seamless cross-border commerce and digital payments.

Hex Trust will provide secure and compliant custody solutions that uphold regulatory standards and enhance security for all transactions with IDA.

IDA and Hex Trust will also collaborate to explore real-world use cases for cross-border trade, aiming to enhance payment efficiency while ensuring compliance with regulatory requirements.

"The stablecoin initiative will strengthen Hong Kong's competitive edge as a global financial hub," says Giorgia Pellizzari, managing director and head of custody at Hex Trust.

"Our role as an institutional-grade custodian reflects our commitment to fostering a secure and compliant financial ecosystem for digital assets.”

In addition to its stablecoin solution, IDA is developing a comprehensive financial infrastructure to bridge stablecoin operations with enhanced connectivity between blockchain networks and traditional financial systems.

Hex Trust and IDA are also exploring deeper collaborations, including FX features, to foster a thriving stablecoin ecosystem.