CIP-0087: Add Hex Trust as an SV of max weight 3
- Dear Tokenomics and Super Validators,
Please see below Hex Trust’s application to become a Super Validator. Subject to feedback and discussion MPCH and Liberty City Ventures would be willing to sponsor and endorse, respectively.Best regards,
KingaAbstract:
Add Hex Trust as an SV of Weight 7
- Hex Trust commits to:
- Bring an entire financial ecosystem to Canton network through the integration of regulated custody, on/off-ramp, yield products for stablecoins and alternative assets, payments andreal-time on-chain rating
- Support development of Canton by providing practical feedback and suggestions on documentation, requirements and use cases
About Applicant:
Hex Trust is a fully-licensed and regulated digital asset financial institution, providing an end-to-end suite of services to hold, trade, issue and transfer digital assets. Its offerings encompass Custody, Markets services, OTC trading, Escrow and Collateral Management, Staking, Investment solutions, and AssetIssuance all designed to deliver seamless access, robust protection, and operational excellence for institutional and professional clients.
Founded in 2018 in Hong Kong, Hex Trust has rapidly emerged as a global leader in digital assetcustody and financial services, standing at the forefront of innovation in the blockchain and Web3 ecosystem. Built on a foundation of uncompromising security, regulatory compliance, and institutional-grade infrastructure, Hex Trust empowers the world’s most sophisticated investors, builders, and service providers to unlock the full potential of digital assets.
Distinguished by its in-house technology platform and a team of seasoned financial and blockchain experts, Hex Trust combines deep industry expertise with cutting-edge security protocols to safeguardand grow the digital asset portfolios of its clients. Trusted by over 350 institutional clients, the companycontinues to set new standards for operational resilience and institutional adoption of digital assets.
Alongside its institutional offering, Hex Trust has also launched some of the leading on-chain applications in the past 4 years:
1. Clearpool (https://clearpool.finance/): Clearpool is a decentralized credit marketplace andblockchain platform that connects institutional borrowers with lenders to facilitate unsecured lending and borrowing through DeFi. Clearpool also supports payments financing (PayFi) through its stablecoin-based products, providing a new credit layer for the stablecoin economy and
real-world assets.
2. Synnax (https://www.synnax.ai/): Synnax AI is building the
institutional-grade intelligence layer for financial and risk analysis, with live products across publicmarkets, private credit, and digital assets. Synnax is already working with top tier global providers of risk analytics and risk advisory to be their infrastructure partner for Digital Assets intelligence and data analytics.
3. HT Digital Assets (USDX) (https://www.htdigitalassets.com): USDX is a fully fiat-backed, fiat-redeemable stablecoin — designed to expand the availability of
trusted digital dollars for both retail/HNWI and corporate users. Built with compliance at its core, USDX is supported by transparent audits and strong governance. HT Digital Assets is also offering tokenisation of other G10 currencies in a compliant, fiat-backed and fiat-redeemable fashion as well as working on the tokenisation of money market funds in key financial markets such as UAE, SG and EU.
4. Nara: Nara is an upcoming protocol for tokenised private funds with the vision of making them Defi compatible via innovative protocol design and built in liquidity pockets.
5. Protos (https://www.protos.finance/): Protos brings a new standard for institutional Bitcoin. A 1:1 custodian-backed wrapper (pBTC) and its yield-bearing version (pBTCc, ~3.5% APY) turn Bitcoin into secure, programmable collateral across DeFi and institutional markets.
With a global presence spanning Singapore, Hong Kong, Dubai, Italy, and Vietnam, Hex Trust serves a diverse and expanding client base across Asia, Europe, the Middle East, and the Americas.Its mission is clear: to be the most trusted partner for institutions navigating the future of finance in the digital age.
Deliverables for full SV Reward:
Deliverable
Acceptance Criteria
Deadline
Weight Earned
Hex Trust Custody integration of Canton Token Standard
Hex Trust customers can self custody any asset on the Canton Network that adheres to the Canton Token Standard
180 Days from CIP Approval
1
Hex Trust On/Off-Ramp rails
Hex Trust customers can convert assets on Canton Network into fiat currency and vice versa
180 Days from CIP Approval
0.5 for service rollout
+0.5 for service
extension to 10 currencies
Hex Trust Escrow and Collateral Management Solutions
Hex Trust customers to leverage Escrow and CollateralManagement services on Canton Network within the realm of financing solutions and derivative transactions
240 Days from CIP Approval
1
Integration of USDX, other G10 currency stablecoins and MMF product on Canton Network
Native, cross-chain interoperable issuance on Canton for USDand non-USD currencies as well as tokenized money market products (RWA). In collaboration with Clearpool these tokens can be
yield-bearing services,too.
180 Days from CIP Approval
0.5
Clearpool Integration on Canton Network
Clearpool Defi and Payfi protocol integration on Canton Network will allow Canton Network participants to borrow/lend tokenised assets on Canton Network
180 Days from CIP approval
1
Synnax AI Integration on Canton Network
Synnax will integrateits AI data analytics of Synnax.app and Digital Finance on Canton Network allowing its participants to run
on-chain real time portfolio management and risk monitoring of tokenised assets on Canton Network
180 Days from CIP approval
0.5 for integration of Synnax AI data analytics for Public Listed Corporates and Synnax AI data analytics for Digital Finance
+
0.5 to process
250,000+ daily predictions on I/S and B/S metrics, 150,000+ daily corporate performance indicator updates
Nara Integration on Canton Network
Nara protocol integration on Canton Network will allow Canton participants to invest into or launch tokenized funds
180 Days from CIP approval
0.5
Protos Integration on Canton Network
Native, cross-chain interoperable issuance on Canton for pBTC and selected yield bearing versions
180 Days from CIP approval
0.5 for integration effort
+
0.5 for each
$100m deployed in yield vaults on Canton
- An extraBeneficiary PartyID associated with the ‘escrowed’ Super Validator will be set up by theGSF with an SV Weight at the maximum earnable weight. This will not include the potential "First to Production" or "Second to Production" bonus weights.
- Hex Trust is responsible for coordinating the process of setting up the escrowed weights withthe GSF and the operator of the GSF SV node.
- Hex Trust, Clearpool, Synnax AI, Nara and Protos will be jointly responsible for all costsassociated with the operation of the escrow SV
- The escrow SV will NOT mint rewards on a block by block basis
- All escrow SV rewards will go to the Unclaimed Rewards pool
- ⅔ of the Super Validator Operators will update their configurations to allow GSF to host the full weight to be earned by the given Super Validator
- Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group
- Applicant is required to present a calculation for number of Canton Coin it should earn for meeting the requirements of the milestone
- If the Tokenomics Working Group agrees the milestone has been met and agrees with the calculation, an announcement will be sent via the Tokenomics-Announce mailing List
- The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
- ⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to beminted by the Applicant’s Validator, based on the calculation approved by the Tokenomics working group.
- If any milestones and associated rewards are not achieved by the deadline
- Applicant will be notified they have not met a deliverable by the GSF
- Remaining SV Weight assigned to the extraBeneficiary SV will be removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the sameamount by a vote of the Super Validators.
- The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards
- Applicant is subject to CIP-0045 : SV Operating Requirements
- If, at any time, the Applicant has been rewarded SV Weight > 2.5, they are required to operate their SV within 6 months of crossing that Weight. This SV node will join the network with an SV weight of zero
(0) and may add weights as the SV completes the milestones listed in this CIP.
Copyright
- This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal.
Changelog
1. 2025-09-26: Initial draft of the proposal.
APPENDIXES
Appendix I — Motivation
The Canton Network’s long-term success depends on its ability to bridge institutional finance with decentralizedinfrastructure in a secure, compliant, and scalable manner. As adoption accelerates, institutional participantsrequire partners that can provide regulated financial services and integrated digital asset infrastructure across jurisdictions.
Hex Trust — as a regulated financial institution across Asia, the Middle East, and Europe — brings this capability to Canton through its established licensing framework and robust infrastructure spanning custody, brokerage, asset management, and payments.
Hex Trust’s mission aligns with Canton’s core principles: to create an institutional-grade and interoperable financial network that can power real-world use cases and regulated asset activity at scale.
Global Regulatory Posture and Institutional Coverage
Hex Trust operates under a multi-jurisdictional regulatory framework, including licenses and authorizations across key financial hubs in Hong Kong, Singapore, Dubai, and Europe.
Through these entities, Hex Trust provides:
- Regulated Custody Services for digital and tokenized assets under financial authority supervision.
- Staking
- Escrow
- Wrapping services
- Broker-Dealer and Asset Management Services, enabling compliant market participation and tokenized investment products.
- Major Payment Institution capabilities, bridging fiat and digital economies through regulated on/off-ramps and settlement rails.
This regulatory breadth ensures that Canton participants benefit from a globally recognized and compliant framework, unlocking institutional confidence and cross-border utility.
From Custody to Connectivity: Expanding Canton’s Institutional Utility
Beyond its regulated businesses, Hex Trust is building a comprehensive ecosystem of decentralized and enterprise-grade applications. These include tools for tokenization, DeFi yield and credit scoring — designed to operate securely on networks like Canton.
This convergence of regulated financial infrastructure and decentralized innovation positions Hex Trust as a key enabler of institutional DeFi on Canton, supporting use cases such as:
- Regulated custody and fund administration of Canton-native assets.
- Fiat-to-tokenized-asset conversions via compliant on/off ramps.
- Risk-assessed yield generation and tokenized credit markets.
- Real-time payments and programmable settlement solutions.
By bringing this end-to-end stack to Canton, Hex Trust enhances the network’s liquidity, credibility, and interoperability,allowing traditional and digital finance to operate seamlessly together.
Appendix II — Hex Trust Ecosystem Offering
Hex Trust’s ecosystem combines regulated financial service infrastructure with decentralized applications that extend far beyond traditional custody or brokerage. Together, they form a full-stack service model that integrates with Canton’s architecture.
1. Regulated Financial Services
Category
Capabilities
Regulatory Coverage
Custody
Institutional-grade digital asset custody, staking, escrow, collateral management and settlement
Licensed across Asia, Middle East, and Europe
Brokerage, On/Off-Ramps & Asset Management
Regulated access to spot, OTC, and yield-generatingproducts
Licensed in Middle East
Payments & On/Off-Ramps
Fiat-crypto conversion, treasury integration, and payment rail connectivity
Licensed in Singapore
Compliance & Reporting
Full AML/KYC framework, transaction monitoring, and audit-ready reporting
Global regulatory alignment with FATF and regional standards
2. Decentralized & Enterprise Applications
Domain
Description
DeFi & Yield Protocols
Risk-managed stablecoin and RWA yield generation integrated with Canton smart contracts.
Credit Rating Infrastructure
On-chain credit analytics layer to assess counterparties and collateral across Canton’s participants.
Tokenization and Wrapping Infrastructure
Real-world and digital asset tokenization with full lifecycle management and custody.
Payments Network
Decentralized payment applications and APIs enabling instant settlement and programmable transfers.
This dual structure — regulated financial services coupled with decentralized applications — makes Hex Trust’scontribution uniquely valuable to Canton’s hybrid institutional ecosystem.
Appendix III — Statement of Work
Hex Trust commits to implementing a four-phase roadmap designed to progressively integrate its regulated and decentralized infrastructure into the Canton Network.
Phase 1 — Custody Integration
- Integrate Canton Coin and the Canton token standard into Hex Trust’s custody infrastructure.
- Enable Canton-native wallet management and reporting for institutional clients.
- Launch Canton support within Hex Safe, providing secure, regulated access for institutions.
- Enable Custody-based value-adding services: Escrow and Collateral Management.
Phase 2 — On/Off-Ramp and Brokerage Connectivity
- Deploy compliant fiat-to-Canton asset on/off-ramp capabilities under Hex Trust’s payment licenses.
- Integrate brokerage APIs for Canton participants to trade and settle tokenized assets.
- Enable cross-border settlement through Canton-linked payment channels.
- Introduce portfolio abstraction tools for seamless transition between custody, brokerage, and validator wallets.
Phase 3 — Credit Rating and Yield Infrastructure
- Deploy an on-chain credit and risk analytics module enabling real-time credit scoring and risk classification of Canton participants tokenised assets on Canton Network.
- Deploy an on-chain data distribution of real-time credit analytics of over 15,000 public listed companies in support of Canton participants credit and portfolio risk management.
- Integrate credit and risk analytics for regulated stablecoins yield products and alternative assets (staking, repo, and structured yield).
- Collaborate with Canton’s Tokenomics Committee to define yield distribution and collateral frameworks.
Phase 4 — Payments and Institutional DeFi
- Launch programmable payments and settlement solutions using Canton smart contracts.
- Connect Canton-native stablecoins to Hex Trust’s payment APIs and external payment rails.
- Enable pilot transactions between regulated institutions across multiple jurisdictions using Canton infrastructure.
- Expand Hex Trust’s decentralized applications to include treasury automation, escrow services, and tokenized credit instruments.
Please see the updated CIP below that has been updated to fit the typical CIP weight structure — three weights, with two tied to performance.
Abstract:
● Add Hex Trust as an SV of Weight 3
● Hex Trust commits to:
○ Bring a comprehensive financial ecosystem to Canton network through the integration of regulated custody, on/off-ramp, payments and yield products for stablecoins
○ Support development of Canton by providing practical feedback and suggestions on documentation, requirements and use cases
About Applicant:
Hex Trust is a fully-licensed and regulated digital asset financial institution, providing an end-to-end suite of services to hold, trade, issue and transfer digital assets. Its offerings encompass Custody, Markets services, OTC trading, Escrow and Collateral Management, Staking, Investment solutions, and Asset Issuance all designed to deliver seamless access, robust protection, and operational excellence for institutional and professional clients.
Founded in 2018 in Hong Kong, Hex Trust has rapidly emerged as a global leader in digital asset custody and financial services, standing at the forefront of innovation in the blockchain and Web3 ecosystem. Built on a foundation of uncompromising security, regulatory compliance, and institutional-grade infrastructure, Hex Trust empowers the world’s most sophisticated investors, builders, and service providers to unlock the full potential of digital assets.
Distinguished by its in-house technology platform and a team of seasoned financial and blockchain experts, Hex Trust combines deep industry expertise with cutting-edge security protocols to safeguard and grow the digital asset portfolios of its clients. Trusted by over 350 institutional clients, the company continues to set new standards for operational resilience and institutional adoption of digital assets.
With a global presence spanning Singapore, Hong Kong, Dubai, Italy, and Vietnam, Hex Trust serves a diverse and expanding client base across Asia, Europe, the Middle East, and the Americas. Its mission is clear: to be the most trusted partner for institutions navigating the future of finance in the digital age.
Deliverables for full SV Reward:
Deliverable
Acceptance Criteria
Deadline
Weight Earned
Hex Trust
integration of
Canton Coin
and Canton
Token Standard
Hex Trust customers can safekeep CC and any asset on the
Canton Network that adheres to the Canton Token Standard
+180 day
from CIP
Approval
1
Adoption Bonus
All CC burn
attributable to Hex
Trust-facilitated
inelastic burn on the Network
+180 day
from
Integration
Go Live
+0.5 per $2m of inelastic burn
generated on
the network
Max +2
SV Reward Mechanics:
● An extraBeneficiary PartyID associated with the ‘escrowed’ Super Validator will be set up by the GSF with an SV Weight at the maximum earnable weight. This will not include the potential "First to Production" or "Second to Production" bonus weights.
○ Hex Trust is responsible for coordinating the process of setting up the escrowed weights with the GSF and the operator of the GSF SV node. ○ Hex Trust will be responsible for all costs associated with the operation of the escrow SV
○ The escrow SV will NOT mint rewards on a block by block basis ○ All escrow SV rewards will go to the Unclaimed Rewards pool ● ⅔ of the Super Validator Operators will update their configurations to allow GSF to host the full weight to be earned by the given Super Validator ● Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group
○ Applicant is required to present a calculation for number of Canton Coin it should earn for meeting the requirements of the milestone ● If the Tokenomics Working Group agrees the milestone has been met and agrees with the calculation, an announcement will be sent via the Tokenomics-Announce mailing List
○ The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
○ ⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to be minted by the Applicant’s Validator, based on the calculation approved by the Tokenomics working group.
● If any milestones and associated rewards are not achieved by the deadline ○ Applicant will be notified they have not met a deliverable by the GSF ○ Remaining SV Weight assigned to the extraBeneficiary SV will be
removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the same amount by a vote of the Super Validators.
○ The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards
● Applicant is subject to CIP-0045 : SV Operating Requirements ○ If, at any time, the Applicant has been rewarded SV Weight > 2.5, they are required to operate their SV within 6 months of crossing that Weight. This SV node will join the network with an SV weight of zero (0) and may add weights as the SV completes the milestones listed in this CIP.
Copyright
● This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal. Changelog
1. 2025-09-26: Initial draft of the proposal
2. 2025-11-04: second draft proposal
3. 2025-11-06: third draft proposal
APPENDIXES
Appendix I — Motivation
The Canton Network’s long-term success depends on its ability to bridge institutional finance with decentralized infrastructure in a secure, compliant, and scalable manner. As adoption accelerates, institutional participants require partners that can provide regulated financial services and integrated digital asset infrastructure across jurisdictions.
Hex Trust — as a regulated financial institution across Asia, the Middle East, and Europe — brings this capability to Canton through its established licensing framework and robust infrastructure spanning custody, brokerage, asset management, and payments.
Hex Trust’s mission aligns with Canton’s core principles: to create an institutional-grade and interoperable financial network that can power real-world use cases and regulated asset activity at scale.
Global Regulatory Posture and Institutional Coverage
Hex Trust operates under a multi-jurisdictional regulatory framework, including licenses and authorizations across key financial hubs in Hong Kong, Singapore, Dubai, and Europe. Through these entities, Hex Trust provides:
● Regulated Custody Services for digital and tokenized assets under financial authority supervision
● Staking
● Escrow
● Wrapping services
● Broker-Dealer and Asset Management Services, enabling compliant market participation and tokenized investment products
● Major Payment Institution capabilities, bridging fiat and digital economies through regulated on/off-ramps and settlement rails.
This regulatory breadth ensures that Canton participants benefit from a globally recognized and compliant framework, unlocking institutional confidence and cross-border utility.
- Hex team, thanks for submitting this proposal and indicating your interest in participating in the network. To help us understand the platform better, could you share more about your ecosystem and the types of entities you would bring to the network as part of the CIP?
When assessing CIPs, it's helpful to consider the unique utility each potential SV may unlock for the network relative to existing network participants, and articulating these differences or unlocked growth vectors can significantly strengthen the CIP.
I'd also be interested in hearing other solutions Hex offers if they contribute to the attractiveness of the core product.Kind regards,AlexCumberland - toggle quoted message Show quoted textDear Alex,
Please see the response below from Hex Trust. Let me know if you have additional questions and I am happy to connect you directly with the team.Best,Kinga
Hex Trust is a regulated digital asset financial institution established in 2018, headquartered in Hong Kong, with offices across Singapore, Dubai and Italy. The firm provides a full suite of institutional digital asset services — including custody, trading, financing, staking, collateral management, issuance of wrapped assets, and investment solutions — under a robust regulatory framework.
Regulatory Coverage:
-
Hong Kong: Trust company and Trust or Company Service Provider (TCSP) License
-
Singapore: Major Payment Institution (MPI) Licenses
-
Dubai (VARA): Virtual Asset Service Provider (VASP) License covering Custody, Brokerage, Asset Management
-
Italy: Registered Virtual Asset Service Provider (OAM)
Serving over 350 institutional clients, including banks, asset managers, and corporations, Hex Trust is recognized for institutional-grade security, compliance, and operational resilience.
Ecosystem and Entities
Hex Trust has developed a growing ecosystem of regulated and on-chain entities that collectively expand institutional access to digital assets:-
Aura: Private wealth management platform for HNWI, Family Offices and Trusts.
-
HT Digital Assets (USDX): Fiat-backed, fiat-redeemable stablecoin and tokenization platform.
-
Clearpool: Decentralized institutional credit marketplace and PayFi platform.
-
Synnax AI: Intelligence and analytics layer for risk and digital asset data.
-
Nara Protocol: Tokenized private funds infrastructure enabling compliant DeFi integration.
-
Protos Finance: Institutional-grade wrapped Bitcoin and yield-bearing collateral instrument.
Differentiation and Contribution to Canton
Hex Trust brings regulated infrastructure, Asia–Middle East market coverage, and operational validator expertise to Canton. Through its ecosystem, it can onboard regulated institutions, stablecoin issuers, DeFi credit platforms, and analytics providers to the network — unlocking new use cases in tokenization, collateral management, and institutional DeFi.Together, these capabilities position Hex Trust as a strategic institutional partner capable of strengthening Canton’s regulatory credibility, ecosystem diversity, and institutional adoption
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From: cip-discuss@... <cip-discuss@...> on behalf of alechen via lists.sync.global <alechen=cumberland.io@...>
Sent: Monday, November 10, 2025 8:30:28 PM
To: cip-discuss@... <cip-discuss@...>
Subject: Re: [cip-discuss] CIP-0087: Add Hex Trust as an SV of max weight 3You don't often get email from alechen=cumberland.io@.... Learn why this is importantHex team, thanks for submitting this proposal and indicating your interest in participating in the network. To help us understand the platform better, could you share more about your ecosystem and the types of entities you would bring to the network as part of the CIP?
When assessing CIPs, it's helpful to consider the unique utility each potential SV may unlock for the network relative to existing network participants, and articulating these differences or unlocked growth vectors can significantly strengthen the CIP.
I'd also be interested in hearing other solutions Hex offers if they contribute to the attractiveness of the core product.Kind regards,AlexCumberland -
