Hex Trust, a digital assets financial service provider, has secured a strategic investment led by Morgan Creek Digital, a firm focused on venture capital investments in digital innovation.
This funding round, which also saw participation from global investors such as Injective, has brought Hex Trust’s total funding so far to over $100m.
The investment is said to be a “key” step as Hex Trust gears up for its Series C funding round expected in late 2025.
Morgan Creek Digital GP Xavier Segura said: “We are pleased to support Hex Trust in their recent strategic financing round. With over 300 institutional clients and more than US$5bn in assets under custody, we believe Hex Trust has demonstrated its capability to address the complex needs of institutional clients.
“We think their focus on regulatory compliance, security, and seamless integration with legacy institutional portfolios has positioned them to serve the growing demand in the digital asset ecosystem in APAC and beyond.”
The new capital will be utilised to explore strategic opportunities within Hex Trust’s staking and markets divisions, including the “potential” for strategic acquisitions.
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The investment is set to bolster Hex Trust’s capabilities to scale its operations and further cement its position in the institutional digital asset services market.
Hex Trust CEO and co-founder Alessio Quaglini said: “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.”
Established in 2018, Hex Trust has a client base of over 300 institutions, including banks, funds, exchanges, and other financial entities.
The company operates across Hong Kong, Singapore, Dubai, France, and Italy.
Hex Trust secured a minimum viable product (MVP) licence from Dubai’s Virtual Asset Regulatory Authority (VARA) in 2022, enabling the firm to commence its operations in the city.
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