Last updated:
Journalist
Tanzeel Akhtar
Journalist
Tanzeel Akhtar
Share
Why Trust Cryptonews
Ad Disclosure
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Hong Kong-based crypto custodian Hex Trust successfully closed a strategic funding round led by Morgan Creek Digital on Friday.
In an announcement shared with CryptoNews, Hex Trust said the round saw participation from multiple global investors, including Injective, bringing Hex Trust’s total funding to over $100 million. The capital raise comes at a time when the company is preparing for its Series C round later in 2025.
The funding secured will be used to support the firm’s expansion efforts, focusing on scaling its staking and market services business. Additionally, Hex Trust plans to explore potential strategic acquisitions to improve its market presence.
Rise in Institutional Demand for Regulated Digital Assets
Hex Trust said with increasing institutional demand for secure and regulated digital asset solutions, the firm is trying to solidify its position as a trusted partner for institutional investors, builders, and service providers.
“The funding paves the way for our Series C investment round as we continue to expand, innovate, and enhance the digital asset services we provide to our rapidly growing institutional client base,” said Alessio Quaglini, CEO and co-founder of Hex Trust.
Morgan Creek Digital Backs Hex Trust’s Vision
Morgan Creek Digital’s general partner Xavier Segura expressed confidence in Hex Trust’s ability to meet the evolving needs of institutional clients.
“We are pleased to support Hex Trust in their recent strategic financing round. With over 300 institutional clients and more than US$5 billion in assets under custody, we believe Hex Trust has demonstrated its capability to address the complex needs of institutional clients,” said Xavier Segura, general partner at Morgan Creek Digital.
Segura went on to explain that Hex Trust’s focus on regulatory compliance, security, and integration with legacy institutional portfolios has positioned them to serve the growing demand in the digital asset space in APAC and beyond.
“With this financing, we have conviction in the team’s disciplined approach and ability to continue expanding their market presence,” said Segura.
Hex Trust was founded back in 2018, and is a licensed custody, staking, markets, and investment firm working with institutional firms, banks, funds, and exchanges.
As Hex Trust expands its services with fresh capital, investors and institutions may look more closely at regulated custody solutions and the broader evolution of digital assets. This funding round signals an ongoing shift toward enhanced security and compliance in crypto markets.
