Hong Kong-based digital asset custody service provider Hex Trust announced that it has closed its Series A funding round with US$6 million led by QBN Capital.

Investors also joining the round include Cell Rising, Radiant Tech Ventures, Kenetic Capital, HashKey, MD Labs, Fenbushi Capital, Borderless Capital, Genesis Block Ventures and Henri Arslanian.

They further added that that the investment will enable it to scale operations and hire key talents in Hong Kong and Singapore.

Additionally in 2021, they will also focus on its expansion into the European market, where the firm has already closed a strategic partnership with SIA, a European provider of banking technology infrastructure.

The company will also use the funds to continue enhancing its proprietary bank-grade custody platform, Hex Safe™ which offers a broad range of custody and treasury management services for cryptocurrencies, security tokens and, recently, non-fungible tokens (NFTs).

Alessio Quaglini, CEO and Co-founder of Hex Trust said,

“We are past the inflection point, as blockchain has established itself as the next financial markets infrastructure. Financial institutions are quickly making their moves, and the next 12 months will be critical to define the structure of the overall market.

 

Hex Trust is now perfectly positioned to accelerate its growth and play a leading role in this space, enabling digital assets adoption for a broad range of regulated financial institutions. We are thrilled to be accompanied in this journey by such established investors.”

Featured image credit: Screengrab from Hex Trust