Hex Trust, a regulated institutional custodian of crypto assets, today announced that it has partnered with The Sandbox, a leading decentralized virtual gaming world, to enable fully licensed and highly secure custody of assets such as LAND in The Sandbox metaverse.
As part of the partnership, Hex Trust will fully integrate LAND into its custodian platform Hex Safe, which supports cryptocurrencies, security tokens, and NFTs. The Sandbox has added Hex Trust as a certified partner to its custodian services directory.
“We are always looking for new ways to secure our community's digital assets and provide peace of mind to The Sandbox community. After working with Hex Trust over the past few months, we are thrilled to now officially partner to further integrate their services into the metaverse.”
– Sebastien Borget, COO and co-founder of The Sandbox
This integration enables institutional investors, brands and companies to store LAND assets with Hex Trust instead of having to keep these valuable virtual land assets in online hot wallets that are exposed to security and hacker risks.
In addition to providing LAND custody services, Hex Trust offers LAND purchase and sale services, as well as financing solutions, including LAND asset leasing and virtual mortgages. Hex Trust entered The Sandbox metaverse in 2022 and purchased a property in the “Web3 Zone.”
“Hex Trust and The Sandbox have worked closely together over the past few months since launching our NFT custody services in early 2020. It's great to solidify our relationship through a certified partnership and continue to provide the best asset custody services in the metaverse to meet increasing institutional demand. As Web3 continues to grow, more brands and investors will require highly secure custodian solutions to hold their assets with peace of mind and full compliance.”
– Alessio Quaglini, CEO and co-founder of Hex Trust
SAND is the Sandbox utility token. SAND is used to purchase LAND, ASSETS or invest in staking pools.
