Hex Trust, a digital asset financial services provider, has acquired Byte Trading to expand its markets and prime services for institutional investors. This acquisition follows key developments, including a strategic funding round with Morgan Creek earlier this month.

Byte Trading’s low-latency trading platform will be integrated into Hex Trust’s secure and regulated infrastructure, with the aim of enhancing the latter’s execution capabilities for its institutional clients.

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

“The acquisition of Byte Trading marks another important milestone in Hex Trust’s strategic development. Their best-in-class technology accelerates our transformation from a custody provider to a full-service financial institution, empowering us to meet the growing demands of institutional investors in the digital assets space.”

The announcement mentions that the acquisition strengthens Hex Trust‘s position as a comprehensive digital asset financial institution, marking its first step toward accelerated growth in 2025.

Hex Trust also previously rolled out its electronic trading platform in November 2024, which skips the need to transfer assets into exchanges, potentially dropping counterparty risk levels significantly. Assets under its new electronic trading platform will remain there during the entire trading process, possibly providing an additional security layer.

Aside from the milestone where Hex Trust acquires Byte Trading, Hex Trust also advertises that its electronic trading platform delivers institutional-grade security, direct settlement with no order routing and comprehensive digital asset coverage, among other features.

With significant market opportunities and robust financial backing with total capital now reaching US$100 million, and as Hex Trust now acquires Byte Trading, Hex Trust could be well-positioned to drive further institutional adoption of digital assets.

Established in 2018, Hex Trust delivers licensed custody, staking, markets, and investment solutions to more than 300 institutional clients. With operations spanning Hong Kong, Singapore, and Dubai, Hex Trust aims to combine strict regulatory compliance with robust, secure infrastructure to safeguard digital assets.