Hex Trust, an Asia-based crypto and blockchain asset custody agency, announced that it has successfully secured Hong Kong’s largest financial technology center and innovative digital community Cyberport, which is wholly owned by the Hong Kong Special Administrative Region government.
This investment enables Hex Trust to expand its operations, recruit key talent in Hong Kong and Asia, and strengthen its licensing framework. Hex Trust also plans to enter the European market; it has established a partnership with European banking technology infrastructure provider SIA. In addition, Hex Trust will continue to enhance its proprietary platform Hex Safe, which provides custody and fund management services for cryptocurrencies, securities tokens and non-fungible tokens (NFT).
As the digital hub of Hong Kong, Cyberport is a vibrant innovation and technology ecosystem with more than 1,650 start-ups and technology companies. It is managed by Hong Kong Cyberport Management Co., Ltd., which is wholly owned by the Hong Kong Special Administrative Region Government.
Fintech is one of the focal points of Cyberport, which is now home to the largest Fintech community in Hong Kong. As a new member of the Cyberport Incubation Program, Hex Trust joined the Cyberport community in 2019 and received a full range of support, including financial assistance, various commercial and professional services, and investment opportunities.
“Given Cyberport’s track record in supporting and developing major unicorns in the industry, the investment from Cyberport is a huge vote of confidence. As the blockchain establishes itself as the infrastructure of the next financial market, based on Blockchain assets have become more and more important, and financial institutions have begun to mobilize. Hex Trust will play a leading role in this field, enabling digital assets to be adopted by a wide range of regulated financial institutions.”
—— Alessio Quaglini, CEO and co-founder of Hex Trust
Hex Trust was established in Hong Kong in 2018 and is led by senior banking technology experts Alessio Quaglini, Rafal Czerniawski and other financial services experts. Hex Trust has become Asia’s leading digital asset custodian and has a series of banks, financial institutions and digital asset companies as customers. Hex Trust recently won the “Best Custody Expert, Digital Asset” award in the “Three A Sustainable Investment Awards for Institutional Investors, ETFs and Asset Service Providers”.
“As an outstanding digital asset management company, Hex Trust is well-positioned in a promising area of Hong Kong’s world-class financial services industry. Through investing in Hex Trust, Cyberport Macro Fund helps attract professional investors’ co-investment, thereby Support this promising start-up company to further accelerate its business development.”
—— Cyberport Chairman Dr. Carrie Lam
Cyberport’s investment follows the successful completion of Series A by Hex Trust at the end of March, during which time they raised US$6 million from a series 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 fully capable of accelerating its growth and strengthening its credibility in enabling banks and financial institutions to adopt digital assets.