Hex Trust is a Hong Kong-based provider of digital asset custody services founded in 2018. The company is known for its proprietary bank-grade platform, Hex Safe, which delivers decentralized finance and prime trading solutions to financial enterprises, digital-asset firms, and other organisations. Hex Trust was founded by Alessio Quaglini, Marc Amez-Droz, and Rafal Czerniawski. According to reports, the company raised $88 million in a Series B round that increased its capitalization to $300 million. The articles do not disclose revenue or user metrics. Hex Trust operates Hex Safe, a licensed custody platform for crypto assets. The company recently secured $10 million in fresh funding to bolster market infrastructure and security frameworks for Hex Safe. The round was led by Animoca Brands with participation from several crypto and institutional investors. Hex Trust said the capital will fund expansion in Singapore and Vietnam and establish a footprint in Europe and the Middle East. The custodian also noted it recently obtained a license to provide custodial services from the Monetary Authority of Singapore under the Securities and Futures Act. Investors from Hex Trust's March $6 million Series A also took part in the latest investment. Hex Trust operates a bank-grade custody solution, Hex Safe™, providing custody and treasury management services for virtual currencies, security tokens and NFTs. The company said a strategic investment from Cyberport will enable it to scale operations and recruit talent across Hong Kong and wider Asian markets. Hex Trust plans to enhance its licensing framework to address growing institutional demand for digital assets in Asia and to expand operations into European markets through a partnership with SIA. Management emphasized staying focused on improving Hex Safe™ and on enabling digital-asset adoption by regulated financial institutions and banking platforms. Prior to the Cyberport investment, Hex Trust completed a March 2021 Series A, raising $6 million in capital from a group of investors. Cyberport is managed by the Hong Kong SAR Government and is Hong Kong’s largest tech hub, which Cyberport says helped attract co-investments from professional investors into Hex Trust. Hex Trust is a Hong Kong-based digital asset custody service provider founded in 2018. The company helps banks, financial institutions, and corporates maximize digital asset management. In March 2021 it launched a secure way of storing non-fungible tokens. Hex Trust recently completed a $6 million Series A round led by fintech-focused QBN Capital with participation from multiple crypto and venture investors. Proceeds will be used to advance its Hex Safe offering, establish a compliance section, and recruit talent. The company plans hiring in Hong Kong and Singapore to support these initiatives.

Total raised

$104M

Funding rounds

4

Latest round

Series B

Latest activity

Mar 2022