Hex Trust, a crypto and blockchain asset custodian headquartered in Asia, has 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.
The investment enables Hex Trust to scale operations, hire key talents across Hong Kong and Asia, and enhance its licensing framework. Hex Trust is also planning to expand into the European market; where it has already closed a partnership with SIA, a European provider of banking technology infrastructure. Besides, Hex Trust will continue enhancing its proprietary platform, Hex Safe, which offers custody and treasury management services for cryptocurrencies, security tokens, and non-fungible tokens (NFTs).
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.
“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 mobilizing 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.”
– Alessio Quaglini, CEO & Co-Founder of Hex Trust
Established in Hong Kong in 2018, Hex Trust is led by veteran banking technologists Alessio Quaglini, Rafal Czerniawski, and other financial services experts. Hex Trust has already established itself as the leading digital asset custodian in Asia and has a range of banks, financial institutions, and digital asset companies as clients. 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’.
“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.”
– Dr. George Lam, Chairman of Cyberport
Cyberport’s investment follows the successful closure of Hex Trust’s Series A in late March, during which they raised USD $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 is now perfectly positioned to accelerate its growth and to strengthen its credibility in enabling banks and financial institutions to adopt digital assets.