CandleFocus

Hex Trust and The Sandbox Create Partnership

Author: Yana Long
Today Hex Trust, a regulated and institutional-grade crypto-asset custodian, has announced its partnership with The Sandbox; a decentralized sandbox gaming world. This strong relationship is marked with the enabling of a secure custody of properties like LAND in The Sandbox's metaverse and the firm integration of LAND into Hex Trust's custodian platform, Hex Safe. These services supports not only cryptocurrencies but also security tokens and NFTs.

The Sandbox team has welcomed Hex Trust as a certified partner to its list for custody service providers. COO & Co-Founder of The Sandbox, Sebastien Borget, stated, “We are always looking for new ways to secure our digital possessions and bring assurance to The Sandbox's community. After working with Hex Trust for the last few months, we are thrilled to officially create a partnership that allows for more profound integration of its solutions into the metaverse.”

The main purpose of the partnership is to bring in institutional investors, brands, and corporations, and let them store LAND assets with Hex Trust, that otherwise they would need to store in online hot wallets exposed to security and hacking risks. Additionally, the services provided by Hex Trust to buy and sell LAND, along with its financing solutions, such as leasing LAND assets and virtual mortgages, also plays a large role in the partnership.

Speaking of the relationship,CEO & Co-Founder of Hex Trust, Alessio Quaglini, said “Hex Trust and The Sandbox have been in close contact since Hex Trust unveiled its NFT custody services in early 2020. We are delighted to solidify our connection with the certified partnership and further providing the market's best-in-class custody services for assets in the metaverse with the increasing institutional demand. As web3 continues to advance, more brands and investors are in need of a secure and compliant policies to store their assets, and Hex Trust is here to provide that peace of mind.”

Finally, The Sandbox's token, SAND has various uses for the gamers. It can be used to purchase LAND, ASSETS, and to invest in staking pools.

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