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wXRP Unlocking Global XRP Liquidity🚀Hex Trust INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Let's get into XRP and institutional adoption. What is this
• 0:04
  Speaker 1: going to look like? Because there is something big brewing
• 0:07
  Speaker 1: with a project out there known as hex Trust.
• 0:09
  Speaker 2: Today we're going to be diving in deep.
• 0:11
  Speaker 1: I think you guys are definitely want to get into
• 0:13
  Speaker 1: this one, all right, So let's get started, first of
• 0:16
  Speaker 1: all this morning with Georgia Palazzari, who is with hex
• 0:21
  Speaker 1: Trust and she's pretty much the person head of not
• 0:24
  Speaker 1: only a head of product, but also around custody, and
• 0:27
  Speaker 1: I want to dive in a little deeper with Georgia.
• 0:30
  Speaker 1: First of all, welcome to the show, Thanks for coming.
• 0:32
  Speaker 3: In today, Thanks for having me, Hie Paul.
• 0:36
  Speaker 1: So let's just learn a little bit more about hex
• 0:39
  Speaker 1: trust itself, because I think a lot of people want
• 0:43
  Speaker 1: to understand I have XRP, whether I'm an institution or
• 0:46
  Speaker 1: maybe I'm a big holder, what will this enable for
• 0:49
  Speaker 1: users right now?
• 0:52
  Speaker 3: Absolutely a great question. So first all, maybe really quick
• 0:55
  Speaker 3: on hex Trust. We are in a financial search provider
• 1:00
  Speaker 3: and custod infrastructure provider focused primarily in Asia, Middle East
• 1:06
  Speaker 3: and Europe, and we've been in the market since twenty eighteen,
• 1:10
  Speaker 3: so we've seen quite many cycles and have been there
• 1:13
  Speaker 3: for a while really with the vision exactly to bring
• 1:17
  Speaker 3: all the financial services and infrastructure to institutions to really
• 1:22
  Speaker 3: make the most out of digital assets. And this is
• 1:25
  Speaker 3: really where it is absolutely natural to include XORP and
• 1:30
  Speaker 3: really be there for the evolution of a cross chain,
• 1:34
  Speaker 3: interoperable and composable XORP. So what does it mean for
• 1:39
  Speaker 3: an institution? XORP is the native asset of the XORP ledger,
• 1:46
  Speaker 3: but that means that there comes some limitation that comes
• 1:50
  Speaker 3: really with the technology now we know today there are
• 1:53
  Speaker 3: so many different blockchains, and programmability of assets are really
• 1:57
  Speaker 3: something that has come in with Ethereum and then developing
• 2:01
  Speaker 3: further across different chains. But XORP l natively is not
• 2:06
  Speaker 3: really that programmable sort of defied native system. Right. It
• 2:12
  Speaker 3: means that a large institutional holder that is holding a
• 2:17
  Speaker 3: number five market cap acid, incredible collateral acid, cannot really
• 2:23
  Speaker 3: do much with it, right. So the idea with w
• 2:28
  Speaker 3: XORP is really to offer that one to one wrapper
• 2:34
  Speaker 3: of XORP that is safely sitting in regulated custody and
• 2:38
  Speaker 3: really keep bridging that gap and turning into a and
• 2:43
  Speaker 3: productive act rather than just maybe the fast and secure
• 2:48
  Speaker 3: settlement act that originally XORP was designed for so XRP
• 2:52
  Speaker 3: has been there really with payments as a vision all along,
• 2:57
  Speaker 3: but now it's not just about payments and settlement is
• 3:00
  Speaker 3: really about productivity, is about being able to offer liquidity
• 3:05
  Speaker 3: in liquidity pools. It's about uh, you know, boring against
• 3:09
  Speaker 3: collateral and et cetera, et cetera, and really being useful
• 3:13
  Speaker 3: in incredible DeFi ecosystems such as Etherorum and Solana.
• 3:18
  Speaker 1: Yeah, I mean looking at across chain infrastructure here, you've
• 3:22
  Speaker 1: got Solana, Ethereum, hype optimism more coming. Can you can
• 3:28
  Speaker 1: you give us any indication of maybe other chains that
• 3:30
  Speaker 1: might be coming across soon.
• 3:34
  Speaker 3: I think this is there's still a lot of conversations. Obviously,
• 3:38
  Speaker 3: we are working very closely with the Ripple team on
• 3:41
  Speaker 3: this front. Also because actually rep x orp, so recorpe
• 3:48
  Speaker 3: x or P, rep x or P and r l
• 3:50
  Speaker 3: U s D are really more of three assets that
• 3:54
  Speaker 3: should be regarded as a whole stack. Right. I love
• 3:59
  Speaker 3: in my mind to think of these not as extree
• 4:02
  Speaker 3: separate components, but rather something that really complement each other
• 4:07
  Speaker 3: and really enables, for one, you know, the compliant stable
• 4:13
  Speaker 3: element that comes through our USD. Right. Two, Again, we
• 4:18
  Speaker 3: just talked about the valued, the inheritance value of xorp,
• 4:21
  Speaker 3: and three the cross chain element which comes with w xorp. Right,
• 4:26
  Speaker 3: So we're developing all of this with first of all
• 4:29
  Speaker 3: web pacing it because I think once we have launched
• 4:32
  Speaker 3: on a few ecosystems, we do want to develop depth
• 4:36
  Speaker 3: in those ecosystems activity, TVL, use cases, et cetera before
• 4:41
  Speaker 3: expanding further. But there are very interesting plans I had
• 4:45
  Speaker 3: for us.
• 4:45
  Speaker 2: I like it.
• 4:47
  Speaker 1: Let's get into where you guys are heading right now. Well,
• 4:51
  Speaker 1: first of all, let's go over to kind of the
• 4:53
  Speaker 1: comparison of how wrapped XRP is as safe as something
• 4:57
  Speaker 1: like a wrapped bitcoin. If you think about Bicko or
• 5:00
  Speaker 1: something like that. Explain to me how something that has
• 5:05
  Speaker 1: regulated custody like a bigo which holds bitcoin for wrapped
• 5:10
  Speaker 1: how hex Trust is doing this Because you guys are
• 5:13
  Speaker 1: you're a full licensed and ensured custodian, right.
• 5:17
  Speaker 3: Correct, correct. So we operate in multiple jurisdictions, and that's
• 5:21
  Speaker 3: also by choice because we do believe that a a
• 5:27
  Speaker 3: in an industry, in a market where a regulator are
• 5:29
  Speaker 3: still figuring out many things, I think it's very important
• 5:32
  Speaker 3: to offer clients the ability to say, okay, right now,
• 5:35
  Speaker 3: I'm operating out of a certain jurisdiction, but either I
• 5:39
  Speaker 3: want to get licensed in a different jurisdiction where need
• 5:41
  Speaker 3: a licensed custodian. We decided that we have to be there,
• 5:45
  Speaker 3: especially where let's say licensed broker dealers or right sex
• 5:49
  Speaker 3: is change in need licensed custody. We have to be there.
• 5:52
  Speaker 3: Hence why we're regulating in Singapore. We're regulating in a Dubai.
• 5:58
  Speaker 3: We operate as a trust, so fully bankruptcy remode basically
• 6:03
  Speaker 3: status out of Hong Kong. So you could say, you
• 6:07
  Speaker 3: ask how we compared to Big Good, I would say
• 6:10
  Speaker 3: were pretty much very similar. I would say set up right,
• 6:15
  Speaker 3: so regulated in short, cold wallet one to one backing.
• 6:21
  Speaker 3: Of course on chain, on chain segregated, that's very very important.
• 6:28
  Speaker 3: On chain segregated means that you can at any point
• 6:31
  Speaker 3: in time look on public explorers where the reserves are held,
• 6:37
  Speaker 3: and you can monitor any movement. Right, So that really
• 6:39
  Speaker 3: speaks for no re hypothication, which is of course, let's
• 6:44
  Speaker 3: say a bare minimum for custody. But you always want
• 6:48
  Speaker 3: to make sure that you know you don't have to
• 6:50
  Speaker 3: trust us, you can independently always check on the blockchain
• 6:54
  Speaker 3: and see that assets are really there.
• 6:56
  Speaker 1: When you look at that, how would this compare to
• 6:58
  Speaker 1: something like a flare or a coin based xrp.
• 7:02
  Speaker 2: M.
• 7:03
  Speaker 3: No, that that's a good question. I think we you know,
• 7:08
  Speaker 3: from an institutional perspective, I think you you you you
• 7:14
  Speaker 3: can definitely value the centralization and I think there is
• 7:16
  Speaker 3: a lot of merit and fairst version of sort of
• 7:20
  Speaker 3: FX or P right is a fantastic product. From our perspective,
• 7:26
  Speaker 3: we think of institutions and what institutions want to look for.
• 7:30
  Speaker 3: They want insurance, they want the license, They want to
• 7:34
  Speaker 3: honestly be able to knock knock at somebody's door if
• 7:38
  Speaker 3: something goes wrong, and I think that, you know, in
• 7:42
  Speaker 3: the future of of deployment of assets across chains, for institutions,
• 7:49
  Speaker 3: the custody layer is really a must exactly for the
• 7:54
  Speaker 3: reason they're explained accountability licensing, knowing that you know you
• 8:00
  Speaker 3: undergone so one, so two certifications, audits again, un chain segregation,
• 8:08
  Speaker 3: you can constantly check for reserves and again there is accountability,
• 8:13
  Speaker 3: there is insurance. I think as an institution you want that.
• 8:17
  Speaker 3: At the same time, do you want to venture, let's say,
• 8:21
  Speaker 3: into a more decentralized approach for a rapper fantastic. Absolutely.
• 8:26
  Speaker 3: By the way, you can actually do it from custody. So,
• 8:30
  Speaker 3: for example, from our platform, you can use wallet connect.
• 8:33
  Speaker 3: You can connect from your custodial wallet to Flare decentralized application.
• 8:40
  Speaker 3: You could even deploy there is so you want it.
• 8:43
  Speaker 3: So it's not we're not actually saying use us, don't use.
• 8:47
  Speaker 3: Very absolutely, I think there is plenty of room. I
• 8:50
  Speaker 3: think the nature of the two products is very different,
• 8:53
  Speaker 3: and we as a matter of fact enable both.
• 8:57
  Speaker 1: All right, So this is I would consider Flare are
• 9:00
  Speaker 1: more of a I guess a retail product. This is
• 9:04
  Speaker 1: mostly institutional. But do you see family offices, high network individuals,
• 9:10
  Speaker 1: you know, people like that that would potentially utilize what
• 9:13
  Speaker 1: heck trust is doing.
• 9:16
  Speaker 3: Yes, I think so. I do think there is still
• 9:20
  Speaker 3: a fair amount of education that needs to happen, right,
• 9:25
  Speaker 3: That's why I think that potentially products such an ETPs
• 9:31
  Speaker 3: or ETFs potentially that make things a little bit more
• 9:36
  Speaker 3: not palatable, but easier to digest for somebody who doesn't
• 9:40
  Speaker 3: really want to deal with what is repping? What are
• 9:43
  Speaker 3: you really doing? What is this? Which again, US spent
• 9:48
  Speaker 3: now ten years in digital assets five and a half
• 9:51
  Speaker 3: in extrust. Never never finish educating, right. But again it's
• 9:56
  Speaker 3: also not financial advice. I'm not telling anybody to do anything,
• 10:00
  Speaker 3: but you know what I mean. I think as a whole,
• 10:04
  Speaker 3: blockchain or let's say digital assets, still need to bridge
• 10:09
  Speaker 3: a huge user experience gap. Right, There's still a lot
• 10:14
  Speaker 3: of complexity. This is why we sit here talking about
• 10:18
  Speaker 3: cross chain because unfortunately we have many different chains, right,
• 10:22
  Speaker 3: but they all have merits that build for different purposes,
• 10:26
  Speaker 3: so they all deserve to exist and drive what we
• 10:30
  Speaker 3: think as a more let's say blockchain agnostic provider, we
• 10:35
  Speaker 3: think we need to provide infrastructure that is regulated, that
• 10:40
  Speaker 3: is easy to use, and products on top that enable
• 10:45
  Speaker 3: institutions to feel comfortable and feel comfortable, yeah, deploy and
• 10:51
  Speaker 3: feel comfortable venturing a little bit into what the world
• 10:54
  Speaker 3: of digital assets has to offer.
• 10:57
  Speaker 2: Well.
• 10:57
  Speaker 1: I mean, this of course is a huge ecosys and
• 11:00
  Speaker 1: I think the opportunity here is it's really going to
• 11:02
  Speaker 1: accelerate institutional side deployment into XRP, especially with you you
• 11:08
  Speaker 1: think about where this is going around some of the
• 11:10
  Speaker 1: use cases of XRP ledgers.
• 11:11
  Speaker 2: So good news.
• 11:13
  Speaker 1: There when you look at the partnership that you guys
• 11:17
  Speaker 1: had with Doppler. Doppler FI, explain to me first of all,
• 11:21
  Speaker 1: what was it? How does it work? Because I think
• 11:24
  Speaker 1: you know, with Doppler, obviously that's a little bit different comparison.
• 11:29
  Speaker 2: These are institutional vaults. How is this working?
• 11:33
  Speaker 3: Yeah, So Doppler is really offering a way to deploy
• 11:40
  Speaker 3: x RP. And again, for us, a partner with doctor
• 11:46
  Speaker 3: is really about enabling use cases around rep XRP. So
• 11:52
  Speaker 3: when we when we ventured into issuing on different chains,
• 11:56
  Speaker 3: it was quite natural to go where somebody is actually offering,
• 12:00
  Speaker 3: let's say, on chain ways of deploying XERP, and they
• 12:05
  Speaker 3: were like, okay, you know, well, why wouldn't we do
• 12:08
  Speaker 3: it on multiple chains? Right, Again, we are starting from
• 12:12
  Speaker 3: the assumption that we wrapped EXCERP. We're going to be
• 12:16
  Speaker 3: seeing a lot more usage of XCERP and a lot
• 12:21
  Speaker 3: of people that earlier didn't really think, okay, what can
• 12:24
  Speaker 3: I do with this? Now, through liquidity pools and through
• 12:28
  Speaker 3: use cases, there's going to be a lot more adoption.
• 12:31
  Speaker 3: So for Doctler, it was really just the most obvious
• 12:35
  Speaker 3: way to sort of deploy to enable deployment the ACID.
• 12:39
  Speaker 3: So I'm kind of excited about that.
• 12:43
  Speaker 2: Well, and I think the nice thing here.
• 12:46
  Speaker 1: Okay, so yield sources would be pool wrapped XRP.
• 12:50
  Speaker 2: And r l ust kind of situations. Is that what
• 12:52
  Speaker 2: you're talking about?
• 12:55
  Speaker 3: Yes, yes, absolutely, Obviously the Doppler team is really behind
• 13:00
  Speaker 3: the you know, the different strategy they are going to deploy.
• 13:03
  Speaker 3: But yes, the idea is actually to uh to have
• 13:07
  Speaker 3: strategies exactly around a yield on x orp W x
• 13:13
  Speaker 3: RP that can be coming back through our.
• 13:16
  Speaker 1: USD institutions now earning yields on wrapped x RP. That's
• 13:24
  Speaker 1: that's pretty significant and as you said, kind of the
• 13:28
  Speaker 1: mission of what you guys are doing. My question is
• 13:31
  Speaker 1: when you look at a top you know, tier asset
• 13:34
  Speaker 1: like XRP, we are already starting to see this movement.
• 13:38
  Speaker 1: I think with institutional injection into the exchange traded products.
• 13:43
  Speaker 1: Do you think we'll see more onboarding on institutional especially
• 13:47
  Speaker 1: as a lot of this regulatory framework gets lined out
• 13:50
  Speaker 1: here in the US.
• 13:53
  Speaker 3: Absolutely. I think the uh, the the direction is is
• 13:57
  Speaker 3: exactly that. And I think things such as again the
• 14:00
  Speaker 3: Clarity Act that you know it's coming along right there
• 14:04
  Speaker 3: are just some bumps in the roads obviously, now just
• 14:07
  Speaker 3: the recent news they're doubling down on yield and stable coin, which,
• 14:12
  Speaker 3: by the way, it's what most other regulations that that
• 14:18
  Speaker 3: regulatory framework around stable coin, they all sort of go
• 14:21
  Speaker 3: that direction. So it's not hugely surprising, I would say.
• 14:25
  Speaker 3: But the direction overall globally is is right and is encouraging.
• 14:30
  Speaker 3: And this is why we thought this was the right
• 14:32
  Speaker 3: time to work on and roll out w x ORP,
• 14:37
  Speaker 3: because it's really at the time where institutions should be
• 14:41
  Speaker 3: feeling more and more comfortable and cater for from a
• 14:46
  Speaker 3: regulatory perspective. Again, it goes back to also the fact
• 14:49
  Speaker 3: that we are regulating multiple jurisdictions. We can offer that
• 14:54
  Speaker 3: comfort allsort of allowing clients to move from one to
• 14:58
  Speaker 3: another depending on how things change. But overall, our mission
• 15:04
  Speaker 3: as extrast is really to do this four institutions. And
• 15:07
  Speaker 3: again we've been in the market for eight years now,
• 15:11
  Speaker 3: we survive you know, black swan events and different companies
• 15:19
  Speaker 3: that that really I would say discouraged probably institutions to
• 15:24
  Speaker 3: come in. But we still believe that the direction is
• 15:27
  Speaker 3: there and we're going exactly where we need to go.
• 15:30
  Speaker 3: And and WXRP is really you know, a child of
• 15:35
  Speaker 3: this belief and yeah, so we think regulation absolutely is
• 15:40
  Speaker 3: going where it needs to be going for institutions.
• 15:44
  Speaker 1: Talk to me a little bit about the component of
• 15:48
  Speaker 1: where Ripple and tradi Fi ecosystem partners would play into this.
• 15:52
  Speaker 2: Would you have access to them?
• 15:54
  Speaker 1: How does this kind of come together another You know,
• 15:57
  Speaker 1: you guys are working a little bit with what's going
• 15:59
  Speaker 1: on with Singapore. Can you expand on that some of
• 16:03
  Speaker 1: the key partners in there, because there's some big names
• 16:05
  Speaker 1: in there.
• 16:07
  Speaker 3: Are you thinking about the so reple entering the Singapore
• 16:11
  Speaker 3: standbox with our d Yeah, so absolutely so. We have
• 16:19
  Speaker 3: been now present in Singapore for many years, and again
• 16:24
  Speaker 3: we are coming in as that crostoity layer, not only
• 16:29
  Speaker 3: you know, just XRPL assets an x ORPL and really
• 16:34
  Speaker 3: supporting anybody who needs to or wants to transact on
• 16:38
  Speaker 3: the excerpt ledger from a compliant basically piece of infrastructure
• 16:44
  Speaker 3: and and a set of financial services. So we're very
• 16:48
  Speaker 3: excited about that. Now it's very recent news, but we're
• 16:52
  Speaker 3: definitely connected to the ecosystem and we look forward to
• 16:55
  Speaker 3: see the developments of that because I think, really what
• 17:00
  Speaker 3: the Ripuly ecosystem you really represent with our usd ex
• 17:04
  Speaker 3: or P, the sets of products and services that over
• 17:08
  Speaker 3: the years that have been rolling out is really representing
• 17:11
  Speaker 3: the shift from crypto versus banks to sort of banks
• 17:17
  Speaker 3: power by crypto to a certain extent, right, that shift
• 17:21
  Speaker 3: of one against the other instead of now we're seeing
• 17:26
  Speaker 3: this sort of embedding, the sort of slow integration that
• 17:31
  Speaker 3: really needs to go through. Follow the path that we're seeing.
• 17:35
  Speaker 3: You need to approach the regulator, you need to be there,
• 17:38
  Speaker 3: you need to be licensed. Ripple is also licensed in Singapore, right,
• 17:42
  Speaker 3: So it's really the way to go to come to
• 17:47
  Speaker 3: that point where the traditional financial infrastructure and the one
• 17:52
  Speaker 3: of cryptocurrencies they will blend in to hopefully bring not
• 17:57
  Speaker 3: just innovation for the sake of innovation, but progress so
• 18:01
  Speaker 3: that people like you and I and corporates and institutions
• 18:04
  Speaker 3: are going to actually benefit from this.
• 18:08
  Speaker 1: So I know, the Singapore Bloom program. This would essentially
• 18:13
  Speaker 1: allow banks to do well. I guess that you could
• 18:16
  Speaker 1: exchange tokenized deposits now for something like an r L
• 18:19
  Speaker 1: USD or what you're talking about, which would be wrapped
• 18:21
  Speaker 1: XRP seamlessly.
• 18:23
  Speaker 3: Right, Yes, absolutely different assets. Of course, I think there's
• 18:29
  Speaker 3: trade finance the in and actually is part of the
• 18:32
  Speaker 3: sandbox as well with our VSD. So yes, we're going
• 18:35
  Speaker 3: in that direction.
• 18:37
  Speaker 1: Interesting, I know there's companies like JP Morgan in there,
• 18:41
  Speaker 1: You've got Stripe who's in there, I think also looking
• 18:43
  Speaker 1: for payment providing so big names for sure. Beyond that,
• 18:49
  Speaker 1: I want to go over into a couple other things,
• 18:52
  Speaker 1: which is I know you're working with well are you
• 18:55
  Speaker 1: are you working with XRP, ETFs or other treasuries to
• 18:59
  Speaker 1: incorporate it ack XRP for yield generation.
• 19:04
  Speaker 3: Now that's a great question. I'll say not yet. I
• 19:08
  Speaker 3: think right now, our our road model looks as follows. Right,
• 19:11
  Speaker 3: So now we need to really expand in the DeFi
• 19:15
  Speaker 3: ecosystems where we have launched. So that's that's number one.
• 19:19
  Speaker 3: So we want to create a depth of phases and
• 19:21
  Speaker 3: liquidity and TVL and then you know URLUSZ as a
• 19:28
  Speaker 3: settlement lag for tokenies. Are the ways that's going to
• 19:32
  Speaker 3: be also a big part of it in the ecosystem
• 19:35
  Speaker 3: and I think that's where probably we're looking at end
• 19:38
  Speaker 3: of twenty twenty six, more or less we're beginning of
• 19:40
  Speaker 3: twenty twenty seven where we're going to be looking more
• 19:43
  Speaker 3: at ETFs and ETPs. So we're taking in step by step.
• 19:47
  Speaker 3: We only launched end of December, so I think we
• 19:50
  Speaker 3: still have a little work to do.
• 19:53
  Speaker 1: Okay, all right, Do you think we're going to see
• 19:56
  Speaker 1: token ized securities IPOs on XRP ledger coming in on this?
• 20:03
  Speaker 3: I think so. I think again, I think so, right.
• 20:09
  Speaker 3: I think there are really only a couple of true
• 20:13
  Speaker 3: ecosystems out there that are you know, are well set
• 20:19
  Speaker 3: up for tognized r WA's and securities. I our WA
• 20:24
  Speaker 3: of including securities, right, And I think Ripple has the force,
• 20:29
  Speaker 3: the reputation, the infrastructure, the right uh you know, some
• 20:34
  Speaker 3: of the names that you mentioned earlier, the right participants
• 20:37
  Speaker 3: to actually pull this off. And I'm actually quite quite
• 20:41
  Speaker 3: happy to see that there is some some aggregation and
• 20:45
  Speaker 3: consolidation and ecosystems, because again, it is so it is
• 20:50
  Speaker 3: so tricky and so complex to navigate all of these
• 20:52
  Speaker 3: across different blockchains, and so I think having only a
• 20:56
  Speaker 3: couple of sort of more institutional designed blockchains for RWA
• 21:04
  Speaker 3: really make a lot of sense for the industry as
• 21:07
  Speaker 3: a whole to sort of really get to that level
• 21:09
  Speaker 3: of adoptions that we want to see.
• 21:11
  Speaker 1: Talk to me about because I think you mentioned this
• 21:14
  Speaker 1: earlier in the show that institutions kind of like have
• 21:18
  Speaker 1: someone they like the idea of having someone to call
• 21:21
  Speaker 1: if something goes wrong, because if you look at the
• 21:24
  Speaker 1: centralization of custody and risk, I know, you guys have
• 21:27
  Speaker 1: went through a lot of matturations of building an infrastructure
• 21:31
  Speaker 1: that is very secure, but at the same time being
• 21:35
  Speaker 1: able to kind of deal with what's happening in these
• 21:37
  Speaker 1: markets when something does break. Like you know, if you
• 21:40
  Speaker 1: go back to you know ten ten of last year
• 21:43
  Speaker 1: where we saw just unbelievable liquidations, how do you how
• 21:48
  Speaker 1: do you present that to an institutional partner to where
• 21:53
  Speaker 1: you can convince them.
• 21:54
  Speaker 2: That this is the right way to go. What tools
• 21:57
  Speaker 2: are you.
• 21:57
  Speaker 1: Guys bringing to the table that really kind of level.
• 22:00
  Speaker 2: Up on that.
• 22:02
  Speaker 3: Excellent question. You know, again thinking about when I first
• 22:07
  Speaker 3: started extrast or again being in the market for so
• 22:10
  Speaker 3: long and early in those days, we had a different
• 22:14
  Speaker 3: wallet solution. That one was even called frozen, right, so
• 22:17
  Speaker 3: it was beyond cold was frozen.
• 22:20
  Speaker 2: That's a good one.
• 22:22
  Speaker 3: Transaction to sign a transaction, you had to go in
• 22:26
  Speaker 3: different three different volts, three different geographical location. Will take
• 22:30
  Speaker 3: twenty four hours to sign a transaction, So that was
• 22:34
  Speaker 3: that was back then, it was like, okay, it's all
• 22:36
  Speaker 3: about security, custody three point zero. The custody today, of course,
• 22:43
  Speaker 3: security is like hello, that's a given. But you need speed,
• 22:48
  Speaker 3: you need connectivity, and I think really probably in my view,
• 22:54
  Speaker 3: we're one of the very few custodians to have the
• 22:58
  Speaker 3: fastest called wallets in the market. So basically we private
• 23:05
  Speaker 3: keys are held in an encrypted form in a hardware
• 23:09
  Speaker 3: security module. I'll spare you all the details of certifications
• 23:13
  Speaker 3: and whatnot, but basically we're able to achieve the same
• 23:16
  Speaker 3: speed as a hot wallet while being completely offline. And
• 23:22
  Speaker 3: when you talk about liquidation, when you talk about market events,
• 23:25
  Speaker 3: when you talk about twenty four seven, you cannot really
• 23:28
  Speaker 3: compromise between security and speed. Yes, So what we bring
• 23:33
  Speaker 3: to the table is exactly that, plus things such as,
• 23:37
  Speaker 3: for example, you know, things like want to connect. Do
• 23:41
  Speaker 3: we have institutional clients to use wallet connects? Absolutely right,
• 23:47
  Speaker 3: blockchain savvy, very defile focused, liquid funds. They want to
• 23:52
  Speaker 3: be able to, you know, go on UNI, so they
• 23:54
  Speaker 3: want to be able to do that from custody, but
• 23:56
  Speaker 3: they want to be able to do that any time,
• 23:58
  Speaker 3: day and night. Right and heal keys in cold storage.
• 24:02
  Speaker 3: So this is what we bring to the table, connectivity
• 24:05
  Speaker 3: to markets, defy, you know, staking wherever, wherever, you know
• 24:11
  Speaker 3: it makes sense, and all of that from a compliant, insured,
• 24:16
  Speaker 3: secure and fast sort of signing platform.
• 24:21
  Speaker 1: So that we don't have problems that occurred during the
• 24:25
  Speaker 1: era of FTX. How do you how did you guys
• 24:28
  Speaker 1: set up your your legal structure. Have you isolated it
• 24:31
  Speaker 1: to where if something does go wrong that from an
• 24:35
  Speaker 1: insolvency mode side of things, it's protected.
• 24:39
  Speaker 3: Yeah. Absolutely, So that's what we call both sort of
• 24:45
  Speaker 3: obviously legal and technical asset segregation. Right, so not only
• 24:51
  Speaker 3: legally your assets are yours and they sit in custody
• 24:54
  Speaker 3: so you always have a claim on those assets, but
• 24:59
  Speaker 3: also you can see on chain they are never again
• 25:04
  Speaker 3: you can see on the public blockchain that they are
• 25:06
  Speaker 3: not commingled with anybody else's assets and not commingual assets.
• 25:10
  Speaker 3: They're not commingle with any other client assets, right, and
• 25:14
  Speaker 3: there is one seed per client, so everything is extremely segregated.
• 25:19
  Speaker 3: So that's a security well, I would say, a compliant
• 25:23
  Speaker 3: legal posture and technological posture basically from day one.
• 25:28
  Speaker 1: Yeah, I love it well, and you have to remember,
• 25:31
  Speaker 1: I think a lot of people who were around in
• 25:33
  Speaker 1: twenty twenty one or twenty seventeen, these kind of solutions
• 25:37
  Speaker 1: weren't there, So you're still talking about our top five
• 25:41
  Speaker 1: market cap token that didn't have the kind of benefits
• 25:44
  Speaker 1: that even eth had in the early stages. So now
• 25:47
  Speaker 1: that we're starting to see XRP get exposed to this
• 25:50
  Speaker 1: for the first time, really with institutional level, this could
• 25:54
  Speaker 1: be a very pivotal point in the ecosystem for XRP. So, Georgia,
• 26:01
  Speaker 1: thank you so much for coming in today. You guys
• 26:03
  Speaker 1: can learn more about x trust over there just hextreust
• 26:06
  Speaker 1: dot com.
• 26:07
  Speaker 2: Visit that. But thank you so much for stopping in.
• 26:09
  Speaker 2: We appreciate it.
• 26:10
  Speaker 3: Thank you, Paul, Thank you so much for having me.
• 26:18
  Speaker 1: If you like this video, like and subscribe, drop a
• 26:21
  Speaker 1: comment down below, and also join our free private member group.
• 26:25
  Speaker 2: The link is in the description.