According to a press release, Hex Trust, which is licensed as a trust in Hong Kong, raised $6 million in a Series A funding round led by QBN Capital. Other investors included Cell Rising, Radiant Tech Ventures, Kenetic Capital, HashKey, MD Labs, Fenbushi Capital, Borderless Capital, Genesis Block Ventures and Henri Arslanian.
The investment will enable Hex Trust to scale operations and hire key talents in Hong Kong and Singapore to meet growing institutional interest in digital assets in Asia, particularly among banks, exchanges, and corporate clients. In 2021, Hex Trust will also focus on expanding into the European market, where it already has a strategic partnership with SIA, the European leader in banking technology infrastructure.
“We are past the inflection point as blockchain has established itself as the next financial markets infrastructure,” said Hex Trust’s CEO, Alessio Quaglini. “The next 12 months will be critical to define the structure of the overall market.”
The funding will also be used to continue enhancing the proprietary bank-grade custody platform, Hex Safe™, and staying at the forefront of innovation in the digital asset ecosystem. Hex Safe™ offers among the broadest range of custody and treasury management services for cryptocurrencies, security tokens and, recently, NFTs. Earlier this month the platform launched a secure way of storing non-fungible tokens (NFTs) via its NFT Safe service. The service provides custody support to NFT collectors and investors within its Hex Safe platform.
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