Hong Kong, June 30, 2021 – digital asset custodian Hex Trust announced it has successfully secured investment from Cyberport, Hong Kong’s largest FinTech hub and innovative digital community, which is wholly owned by the Hong Kong SAR Government. It did not mention the amount of investment from Cyberport.
According to Hex Trust, the new capital will be used to scale operations, hire key talents across Hong Kong and Asia, and enhance its licensing framework to meet Asia’s rising institutional demand for digital assets. It did not mention the amount of investment from Cyberport.
Hex Trust is also planning its expansion into the European market, where it has already closed a strategic partnership with SIA, the European leader in banking technology infrastructure. It will continue enhancing its proprietary bank-grade custody platform, Hex Safe, which offers a broad range of custody and treasury management services for cryptocurrencies, security tokens and non-fungible tokens (NFTs).
“The investment from Cyberport is a great vote of confidence given their track record in backing and developing major unicorns within the industry. Blockchain-based assets are growing in importance with financial institutions mobilising themselves as blockchain establishes itself as the next financial markets’ infrastructure. Hex Trust will play a leading role in this space, enabling digital assets‘ adoption for a broad range of regulated financial institutions,” says Alessio Quaglini, CEO & Co-founder of Hex Trust.
Dr. George Lam, chairman of Cyberport, adds: “The National 14th Five-Year Plan indicates clear support for Hong Kong to enhance its status as an international asset management centre. With the advancement of FinTech and blockchain technology, digital assets will become one of the most important asset classes. As an outstanding digital asset management company, Hex Trust is well-positioned in a promising sector of Hong Kong’s world class financial services industry. Through investing into Hex Trust, the Cyberport Macro Fund has helped attract co-investments from professional investors, thus supporting this high potential start-up to further accelerate its business development,”
An alumnus of the Cyberport Incubation Programme, Hex Trust joined the Cyberport community in 2019 and has been provided with a comprehensive range of support including financial assistance, a variety of business and professional services, as well as investment opportunities. Cyberport’s investment follows the successful closure of Hex Trust’s Series A in late March, during which they raised US$6 million from a range of leading global investors, including QBN Capital, Cell Rising, Radiant Tech Ventures, Kenetic Capital, HashKey, MD Labs, Fenbushi Capital, Borderless Capital, Genesis Block Ventures and Henri Arslanian.
Hex Trust recently won a ‘Best Custody Specialist, Digital Assets’ award in ‘The Asset Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers’.
Hong Kong Cyberport
As the digital hub of Hong Kong, Cyberport is a vibrant innovation and technology ecosystem with over 1,650 start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, which is wholly owned by the Hong Kong SAR Government. FinTech is one of Cyberport’s key focuses and it is now home to the largest FinTech community in Hong Kong. As a recent alumnus of the Cyberport Incubation Programme, Hex Trust joined the Cyberport community in 2019 and has been provided with a comprehensive range of support including financial assistance, a variety of business and professional services, as well as investment opportunities.
Source: Press release Hex Trust