CandleFocus Hex Trust expands the Bitcoin ecosystem with Babylon's layer-2
2024-10-24
Author: Content Editor
Hex Trust, a provider of digital custody services, has formed a strategic partnership with Babylon, a layer-2 protocol built on Bitcoin. Hex Trust will oversee the assets deposited on the network and provide support for staking, enabling institutional investors to access and enhance the utility of Bitcoin in decentralized finance (DeFi). Babylon currently has a total value locked (TVL) of $1.6 billion, with 23,850 BTC staked. The partnership aims to bring DeFi to institutional clients and enhance the BTCfi ecosystem of Babylon's layer-2. The collaboration highlights Hex Trust's commitment to providing cutting-edge products to its institutional client base.
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