Resources · News Feed
March in Review: The Sovereign Shift
In March, we secured the MPI license in Singapore, and shared insights on institutional security practices and the evolving BTCFi landscape.
- Hex Trust secured MPI License from the Monetary Authority of Singapore
- Published the State of Bitcoin Yield white paper and Bybit exploit analysis
- U.S. announced Strategic Bitcoin Reserve under President Trump
In March, the crypto markets saw a surge in institutional and governmental momentum despite underlying volatility. President Trump announced the creation of a U.S. Strategic Bitcoin Reserve, reinforcing Bitcoin’s status as a sovereign asset, while states like Kentucky and North Carolina advanced pro-crypto legislation. On the corporate front, GameStop revealed a $1.3 billion Bitcoin investment and Fidelity explored launching a stablecoin. Although markets were soft throughout the month, thanks to threats of tariffs and weaker economic data in the US, the underlying positive momentum from institutions and sovereigns in crypto continues.
For Hex Trust, March was defined by regulatory milestones, strategic appointments, and thought leadership. We received the Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS), strengthening our position as a regulated provider of cross-border payment and Digital Payment Token services. We also welcomed Dave Chapman, Co-founder of OSL, to our Advisory Board.
Security remained a central theme, following February’s high-profile Bybit exploit. Our team released a detailed analysis of the breach, offering proactive strategies for institutions to enhance protection, unpacked further in a live AMA webinar. In collaboration with Core Ventures, we released an exclusive white paper exploring how BTC staking and Bitcoin DeFi are unlocking new yield opportunities.
CEO and co-founder, Alessio Quaglini was interviewed on CNBC Street Signs Asia, discussing Bitcoin’s growing maturity and adoption by governments as a reserve asset.
Looking ahead, April is shaping up to be a high-impact month. Hex Trust will be on the ground at major industry events. We’re also ready for the Phase-2 launch of Babylon’s Bitcoin Staking, where Hex Trust will enable secure, yield-generating opportunities for Bitcoin holders.
Read on for key updates, insights, and where to find the team in April.
Key Announcements
Hex Trust Received a Major Payment Institution License from the Monetary Authority of Singapore
Hex Trust has been granted a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS). This milestone enables Hex Trust to provide regulated cross-border money transfer and Digital Payment Token (DPT) services in Singapore. With the MPI license, Hex Trust now offers a fully-integrated suite of digital asset services—including custody, OTC trading, and fiat on/off ramp settlement.
Full announcement here.
Featured in: CoinDesk | crypto.news | Deal Street Asia
Dave Chapman, Co-Founder of OSL, Joined Hex Trust’s Advisory Board
With a distinguished career spanning digital asset innovation, financial technology, and traditional banking, Chapman brings unparalleled expertise to guide Hex Trust’s strategic initiatives as it continues to advance the institutional adoption of digital assets.
Full announcement here.
Featured in: Fintech Finance News | Asset Servicing Times | Finews Asia
Expert analysis
The recent ByBit hack, which led to a $1.4 billion loss, highlights the growing sophistication of cyber threats.
In our latest report, our Co-founder & CTO, Rafal Czerniawski, Chief Engineering Officer, Tommaso Natale, and Head of Custody, Giorgia Pellizzari, breakdown:
- How the attack happened – A step-by-step analysis of the breach and key security gaps.
- A comparative analysis of multi-sig vs. institutional-grade custody solutions.
- The Hex Trust Advantage: How our licensed, institutional-grade custody infrastructure eliminates security risks.
- Actionable strategies for institutions – Proactive measures to prevent similar breaches.
The landscape of Bitcoin yield is undergoing a transformation. As institutions look beyond simple asset holding, a new generation of yield mechanisms—powered by Bitcoin DeFi and staking—is taking shape.
In this exclusive White Paper from Core Ventures and Hex Trust, we examine the current state of Bitcoin yield, its historical evolution, and the secure, scalable solutions now available to institutional players.
In the Media
Alessio Quaglini on CNBC Street Signs Asia
Watch Alessio’s CNBC Interview
Reporting live on CNBC Street Signs Asia, Alessio discussed the currents shaping crypto markets—covering Bitcoin’s maturity, governments’ embrace of Bitcoin as a reserve asset, and its growing role in global finance. Despite market fluctuations and security challenges, the long-term outlook remains strong.
Events and Team Updates
Unpacking The Bybit Exploit In Our Live AMA Webinar
In our recent AMA webinar, we unpacked how the Bybit attack happened, the vulnerabilities of smart contract wallets, the tactics of groups like Lazarus, and best practices for securing digital assets in today’s evolving threat landscape.
Palak Agrawal Joined the Consulate General of India Hong Kong & Macau SARs' International Women's Day Panel
Palak Agrawal from Hex Trust’s Client Management team participated in an International Women’s Day panel hosted by the Consulate General of India in Hong Kong and Macau SARs. The event celebrated accomplished diaspora women, and Palak shared her personal journey from traditional finance to digital assets, reflecting on the challenges, lessons, and opportunities she encountered in building her career in Hong Kong.
Alessio Quaglini and Calvin Shen Joined Global Leaders at Milken Institute
We participated in the Milken Institute Global Investors’ Symposium in Hong Kong—an exclusive gathering of global financial leaders, investors, and policymakers shaping the future of finance. As part of the program, the team joined a closed-door roundtable on “Digital Assets: Trends and Innovations Driving Future Finance.”
Mason Lee Spoke at the Babylon Genesis Pre-Launch Meetup
Hex Trust’s Mason Lee spoke at the Babylon Labs Genesis Pre-Launch Meetup in Taipei, joining Zeus Network and Apollo by Zeus for a panel on BTCFi and Bitcoin’s expanding utility.
As the #1 institutional Finality Provider during Babylon’s Bitcoin Staking Cap 3, Hex Trust looks forward to supporting Babylon’s upcoming Phase-2 launch.
Peak Race 2025
Hex Trust proudly participated in Peak Race 2025, a relay-marathon dedicated to fighting modern slavery and empowering youth worldwide. Two teams from Hex Trust—Hexcelerators and HODL My Beer—took part in this impactful event, raising awareness and funds for the cause.
On the Horizon in April
Babylon’s Phase-2 Launch
Hex Trust is proud to support Babylon’s upcoming Bitcoin Staking Phase-2 launch. Earn rewards by staking your Bitcoin with Babylon utilizing Hex Trust’s custody and staking infrastructure.
Following the upcoming TGE, Hex Safe clients will be able to:
- Custody $BABY tokens
- Deposit and withdraw $BABY tokens
- Stake $BABY on the Hex Safe UI and earn $BABY tokens
As the #1 institutional Finality Provider during Babylon’s Bitcoin Staking Cap 3, Hex Trust is leading the charge in making Bitcoin a productive asset within decentralized finance.
Hex Trust in Action: April Events & Speakerships
Web3 Festival, Hong Kong, April 6 - 9
- Speaker: Alessio Quaglini, CEO & Co-founder, Hex Trust
- Panel: April 6, 10:20 AM – 10:35 AM | Keynote at the Crypto Finance Forum
- Join our side event: Institutional Liquidity in Asia, hosted by Hex Trust, Monad, Figment and Primitive. RSVP here.
GM Monad Exhibition, April 8
- Speaker: Tommaso Natale, Chief Engineering Officer, Hex Trust
- Panel: April 8, 14:40 PM - 15:10 PM | Infrastructure Episode
Paris Blockchain Week, April 8 - 10
- Speaker: Alessio Quaglini, CEO & Co-founder, Hex Trust
- Panel: What will the DeFi landscape look like in 2030? | April 8, 11:20 AM – 12:00 PM CET
- Meet the team: Connect with Luise Vad and Paolo Gagliano
SEZ Dubai, 14 April
- Speaker: Filippo Buzzi, Managing Director, Hex Trust
- Panel: Navigating Governance & Compliance in Web3
Staking Summit Dubai, April 29-30
- Meet the team: Connect with Alessio Quaglini, Filippo Buzzi, James Lindsay, Ana Kismartin, Damien Moser and Mohammad Durrani.
- Panel: Catch Alessio speaking on stage. Details soon to be announced.
Token 2049 Dubai, April 30 - May 1
- Meet the team: Connect with Alessio Quaglini, Filippo Buzzi, James Lindsay, Ana Kismartin, Damien Moser and Mohammad Durrani.
- Hex Trust side event: Details to be released soon!
Product Updates: March 2025
Gas Station (E-trading) for Enterprises is live
No longer let insufficient gas block your trades; enable Gas Station today!
- All Trading Enterprises need Gas Station enabled to trade: This feature is essential for settlement purposes, ensuring smooth transaction processing.
- For more information, please refer to our Knowledge Base.
New Assets Supported
- Added deposit and withdrawal support to Nillion chain.
- We added support to 6 new assets across different chains on Hex Safe.
- For a complete list of supported chains and assets, please refer to our Knowledge Base.
For further information and assistance, contact our support team at clients@hextrust.com
Hex Trust extends our warmest wishes to our clients, partners, and community who celebrated Eid. May the spirit of reflection and renewal continue to bring success and prosperity. Eid Mubarak.
— The Hex Trust Team
Hex Trust - The Leader in Digital Asset Solutions
Custody | Staking | Trading | Investment Solutions | RWA
Talk to the line
Questions about anything here? The people who wrote it are the people who run it.