The license allows Hex Trust to provide cross-border money transfers and digital payment token services.
USDX by Hex Trust integrates DeFi with Flare Network, offering 1:1 USD backing, yield generation, and crosschain capabilities.
The partnership could enhance the “financial utility of Bitcoin for our institutional clients,” wrote Calvin Shen, the chief commercial officer at Hex Trust.
The Major Payment Institution license would allow for the company to offer regulated Digital Payment Token services, such as custody.