Apex Group Joins Hedera Council to Explore Tokenization

Apex Group has joined the Hedera Council and will explore using the network for its tokenization initiatives, Hedera announced November 11. Apex, a financial services provider that services more than $3.5 trillion in assets, will take part in governing the network. The figure refers to assets serviced by Apex, not assets tokenized on Hedera.

Hedera said Apex brings experience in digital assets, institutional market infrastructure and compliance across the lifecycle of assets. It described Apex as the first transfer agent and fund service provider to administer regulated securities using distributed ledger technology. The announcement did not identify a specific tokenization project or say that Apex has committed to deploying one on Hedera.

Under the Council’s governance rules, each member organization has one vote on matters including network pricing, software updates and treasury decisions. Some decisions require a supermajority or unanimous consent. Members are expected to attend meetings, take part in electronic votes, sign governance transactions and host a network node, while building applications on Hedera is optional.

The Council’s framework allows up to 39 members....