fbpx

AsiaTechDaily – Asia's Leading Tech and Startup Media Platform

  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Startup Program
  • Events
  • Lists
Menu
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Startup Program
  • Events
  • Lists
Submit Article
FinTech22 Mar 2022 12:15

Animoca Brands Co-Leads a $88 Million funding round of HK-based Hex Trust

by AsiaTechDaily Writer
Bookmark (0)

Please login to bookmark

No account yet? Register

Hex Trust, a Hong Kong-based provider of digital asset custody services, has secured US$88 million in a Series B investment round headed by Liberty City Ventures and Animoca Brands. According to Bloomberg, the investment raises Hex Trust’s capitalization to US$300 million, a 10x increase in a year’s time. Ripple, Morgan Creek, Terra, Primavera Venture Partners, and entrepreneur Adrian Cheng were among the round’s investors.

The Funding Round of Hex Trust

Hex Trust, founded in 2018, by Alessio Quaglini, Marc Amez-Droz, and Rafal Czerniawski is best known for its proprietary bank-grade platform, Hex Safe. Financial companies, digital asset firms, and organizations can use the service to get safe and easy access to decentralized financing and prime trading solutions. Algorand Foundation, Tezos Foundation, Terraform Labs, Celo Foundation, Animoca Brands, Huobi Asset Management, Flare Networks, and Union Bank of the Philippines are the high-profile clients the firm has onboarded in the previous year.

Hex Trust claims to have $5 billion in assets. Presently employs more than 100 people in Singapore, Hong Kong, and Vietnam. The new funds will help grow into the Middle East and Europe, acquire additional licenses, further enhance the Hex Safe infrastructure, and create new services, including finance and structured solutions. Large institutions will require fully licensed custody services to fulfill compliance and regulatory norms as they continue to deploy digital assets at a faster rate, according to Alessio Quaglini, co-creator and CEO of Hex Trust.

More Statements From The Hex Team

They also stated that the corporation aims to remain ahead of the licensing and compliance curve. As major institutions continue to acquire digital assets rapidly, it also wants to include advancements such as protocols, NFTs, DeFi, GameFi, and the metaverse. The executive stated that the objective is to deliver new services and finance solutions to enable customers to commercialize digital assets held in custody, given the rising need to  to fulfill compliance & regulatory standards  and fully licensed custody services.

Getting Started With High-Profile Clients

Last year, Hex and Animoca Brands announced that they would form a joint venture to provide institutional technology platform wallets and financial sectors for online gamers. They implemented the change with the primary goal of accelerating the expansion of the GameFi ecosystem. Hex has acknowledged working with LeadBlock Partners, Eterna Capital, Sino Global Capital, Topaz, BlockFi, CoinList, Protocol Labs, Pulsar Trading, Wintermute, QBN Capital, Kenetic Capital, HashKey Capital, Fenbushi Capital, Radiant Ventures, Cell Rising, and other high-profile projects and clients.

Tags: decentralized financingDeFiDigital Assetmetaverse

Similar Articles

(Habitto Co-founder and CEO Samantha Ghiotti, Source: Cherubic Ventures)
Interviews29 Nov 2023 2:12

How Habitto managed to break into the Japanese Fintech scene in record time without knowing a word of Japanese

More
Hao Jiang, Vice President of MYbank, gave a keynote speech at the Singapore Fintech Festival on November 16, 2023.
FinTech16 Nov 2023 3:17

MYbank showcases digital solutions for SME financing at the Singapore Fintech Festival 2023

More
Venture Capital10 Nov 2023 8:23

Singapore-based EduFi Raises $6.1M to Bridge Educational Financial Gaps in Pakistan

More

Weekly popular posts

Interviews4 Dec 2019
Guy Tytunovich, CHEQ – Disrupting The Ad Verification Space
more
Startup Program2 Dec 2019
Burning Cash Too Quickly? You Need To Plan Better
more
AI & Big Data8 Dec 2018
Artificial Intelligence in Autonomous Transportation – Revolutionizing the Driverless Future
more
AI & Big Data7 Dec 2018
Content discovery and creation powered by AI and ML – Building the future
more
AI & Big Data2 Dec 2018
Livehealth’s Novel Mobile Solution Changing the Indian Healthcare Space
more

Topics

Menu
  • AI & Big Data
  • AR & VR
  • Blockchain
  • Clean Technology
  • Content & Games
  • Cybersecurity
  • Enterprise & SaaS
  • Gadgets & Electronics
  • Health & Bio

Program

Menu
  • Ecosystem
  • EdTech
  • Featured
  • FinTech
  • Investments
  • IoT
  • Marketplaces & E-commerce
  • Robotics
  • Transportation & Logistics

About

Menu
  • Home
  • Advertisement
  • Contact Us
  • Privacy Policy

Subscribe and be informed first hand about the actual economic news.

All the day’s headlines and highlights, direct to you every morning.

© 2023 asiatechdaily. All rights reserved.

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback