Blockchain monitoring platform Parsiq has teamed up with Hong Kong-based digital asset custodian Hex Trust to provide bank-level security for digital assets. While keeping Parsiq’s PRQ tokens safe, the partnership also offers Hex Trust’s clients additional security with enterprise-grade monitoring.

Parsiq addresses the lack of adequate monitoring and analytics tools in the cryptocurrency ecosystem. Users can keep tabs on events across different blockchains in real-time and connect those events to any off-chain apps and devices to facilitate different workflows. The platform was established in 2018 and listed on the cryptocurrency exchange OKEx since the start of this year.

The collaboration with Hex Trust is another significant step toward realizing the company’s vision to operate a safe cryptocurrency platform that meets the strictest global regulatory requirements, Parsiq says.

It will allow Parsiq to use Hex Trust’s proprietary safekeeping solution “Hex Safe” for custody of Parsiq’s treasury. In addition, clients will be able to store their PRQ assets in Hex Trust’s custody vault.

“Onboarding a company like Hex Trust and getting custody support for PRQ tokens adds a new level of validity to Parsiq and underlines just how much security means to us and our holders,” says Parsiq chief executive officer Tom Tirman.

At the same time, Hex Trust can leverage Parsiq’s infrastructure for blockchain transactions and automate internal business processes such as notifications, deposit processing and security monitoring.

“We are delighted to have been appointed Parsiq’s custodian and provide the highest security levels for their digital assets. Teaming up and integrating their transaction monitoring and automation tools into our custody platform will provide added benefits for our clients and improve their overall experience,” says Alessio Quaglini, co-founder and CEO of Hex Trust.