Hong Kong, June 11, 2025 – Coinscribble by Coinbound / Hex Trust, a leading digital asset financial institution specializing in custody, staking, and markets services, has announced support for SIP-010, the fungible token standard on Stacks, the leading Bitcoin L2. This move allows institutional clients to securely store, manage, and deploy SIP-010 tokens – including sBTC, a leading Bitcoin-backed asset for DeFi – within Hex Trust’s institutional-grade custody.
sBTC Brings Programmability to Bitcoin
sBTC transforms Bitcoin into a fully programmable asset, allowing investors to:
- Earn bitcoin yield
- Access on-chain lending
- Participate in decentralized finance
All this is achieved while maintaining the security and transparency of Bitcoin. Driven by these innovations, sBTC has rapidly emerged as the asset of choice for institutions and DeFi protocols.
Recent demand for sBTC is underscored by:
- A series of three cap raises, each filled within 24 hours
- A total of 5,000 BTC now locked in the ecosystem
- Stacks being ranked as a top native Bitcoin layer by BitcoinLayers.org
Expanding Institutional Access Across Asia
With licenses and registrations in jurisdictions such as Hong Kong, Singapore, Dubai, France, and Italy—and a global institutional client base—Hex Trust’s support for sBTC paves the way for increased adoption and exposure to the Bitcoin economy across Asia.
This development comes as global interest in Bitcoin participation surges. In fact, 59% of institutional investors plan to allocate more than 5% of their portfolios to digital assets in 2025.
Industry Endorsements
Kyle Ellicott, Executive Director at the Stacks Asia Foundation, stated:
“Institutional adoption is critical to unlocking Bitcoin’s full potential, and Hex Trust’s integration of sBTC provides the secure, compliant infrastructure that institutions require. We’re excited to see sBTC become the go-to asset for those seeking yield, programmability, and the security of Bitcoin.”
Giorgia Pellizzari, Managing Director and Head of Custody at Hex Trust, added:
“sBTC is establishing itself as the benchmark for institutional-grade Bitcoin in DeFi. By integrating SIP-010 and adding full support for sBTC, Hex Trust is enabling our clients to securely interact with Bitcoin-based smart contracts and earn native BTC yield, all within a regulated, compliant environment. This is a significant step forward in unlocking Bitcoin’s utility for institutional investors.”
Continuing Integration with the Bitcoin Ecosystem
This announcement builds on Hex Trust’s April 2025 integration of STX and sBTC. It is part of a broader strategy to expand institutional access to the Bitcoin economy through secure and trusted infrastructure. Looking ahead, Hex Trust will introduce support for additional Stacks DeFi via WalletConnect—further enabling institutional participation in the Bitcoin Layer 2 ecosystem.
About Hex Trust
Established in 2018, Hex Trust offers regulated institutional digital asset custody, staking, and markets services to builders, investors, and service providers. Access a comprehensive, secure, and regulated suite of services built on proprietary, fully integrated infrastructure.
Learn more at Hextrust.com or follow Hex Trust on LinkedIn, X, and Telegram.
About Stacks
Stacks is the leading Bitcoin Layer 2 (L2) and the top L2 by developer traction, user activity, and market capitalization. It unlocks over $1 trillion in passive Bitcoin capital and makes BTC a programmable, productive asset.
Stacks enables smart contracts and decentralized applications to:
- Leverage Bitcoin as a secure, programmable foundation
- Execute near-instant transactions (enabled by the Nakamoto upgrade in October 2024)
- Use native BTC in smart contracts, DeFi, and other Bitcoin-secured applications (via the launch of sBTC in December 2024)
The Stacks (STX) token was the first to undergo an SEC-qualified sale in the United States and the project fully decentralized before mainnet launch in 2021.
Learn more at Stacks.co.
