Share this article
Eyeing EU Banks, Hex Trust Teams With SIA on Crypto Custody
A multinational payments firm is partnering with cryptocurrency custodian Hex Trust to help its European banking clients hold digital assets.
Updated May 9, 2023, 3:12 a.m. Published Oct 22, 2020, 8:00 a.m.
Multinational payments firm Sia is partnering with cryptocurrency custodian Hex Trust to help its European banking clients hold digital assets.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“When you have one bitcoin, it’s not a big problem, but when you start adding 10, 20 or 100, you have a treasury and you have to decide where to store this,” said Daniele Savarè, SIA’s innovation and business solutions director. “We are discussing digital custody needs with banks in Europe.”
Following MicroStrategy’s purchase of $425 million in bitcoin, Square’s $50 million bitcoin investment and PayPal’s support of crypto buying and selling on its platform, SIA hopes to prepare its bank clients for a presumptive wave of increased interest in crypto investing, Savarè said.
The firm is also helping banks manage and safekeep security tokens and central bank digital currencies, he added.
SIA eyes BTC
Milan-based SIA is a multinational company that often serves as a gateway to European payments. In early October, Italy’s largest payments processor, Nexi, announced it would acquire SIA in a €4.6 billion ($5.4 billion) stock deal that will close in 2021. The company also provides the network infrastructure for a system running Italian interbank transfers on R3’s Corda.
Through SIA, Hex Trust plans to offer European banks the software to custody digital assets on behalf of their customers. Hex Trust will also act as a sub-custodian for banks that don’t want to directly offer the service, said Hex Trust CEO Alessio Quaglini.
Read more: This Liechtenstein Bank Can Now Custody Crypto
Currently, Hex Trust works with three banks – Mason Privatbank Liechtenstein AG and two unnamed Asian banks. Quaglini said Hex Trust has 10 other banks that are exploring the custodian’s products.
In April of this year, Hex Trust also partnered with R3 to offer the consortium’s banking clients another option for issuing security tokens.
Going forward, SIA will be the primary distribution partner for Hex Trust to offer digital-asset services to banks in Europe, Quaglini said.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
