Hex Trust 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.
Hex Trust was established in Hong Kong in 2018 by veteran banking technologists Alessio Quaglini, Rafal Czerniawski and award-winning financial services experts to empower regulated financial institutions to adopt digital assets. 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’.
The investment enables Hex Trust to scale operations, hire key talents across Hong Kong and Asia, and enhance its licensing framework to meet Asia’s rising institutional demand for digital assets. Hex Trust is also planning its expansion into the European market, where it has already closed a strategic partnership with SIA, the European leader in banking technology infrastructure. Hex Trust will continue enhancing its proprietary bank-grade custody platform, Hex Safe, which offers amongst the broadest range of 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.
Cyberport’s investment follows the successful closure of Hex Trust’s Series A in late March, during which they raised US$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.
“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 mobilising 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
“The National 14th Five-Year Plan indicates clear support for Hong Kong to enhance its status as an international asset management centre. With the advancement of FinTech and blockchain technology, digital assets will become one of the most important asset classes. 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 is an innovative digital community 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. Cyberport’s vision is to be a digital technology hub thereby creating a new economic driver for Hong Kong. Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups on their growth journey, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in the public and private sectors. For more information, please visit www.cyberport.hk.