Hong Kong-based crypto custodian Hex Trust has partnered with Monad Labs to offer custody services for the Monad layer-1 blockchain. This collaboration marks Hex Trust as the first custodian to support Monad’s ecosystem.
Founded in 2022, Monad is a layer-1 network that uses Ethereum Virtual Machine (EVM) for efficient processing and instant block finality. In April, Monad Labs secured $225 million in funding led by Paradigm to enhance transaction speeds and reduce fees.
Hex Trust’s strong position in the APAC and MENA regions, along with its rapid innovation in custody services, makes it a key provider for Monad. The partnership aims to leverage Hex Trust’s expertise to securely manage assets on the Monad blockchain.
This collaboration signifies a strategic move to bolster the Monad ecosystem, ensuring secure and efficient transaction processing in the long term.
