Hong Kong-based digital asset custody service provider Hex Trust announced it has successfully secured investment from Cyberport, a local fintech hub and digital community. The sum was not disclosed.

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.

The firm said that it will 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 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.

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 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 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.”

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

“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.”

said Dr. George Lam, Chairman of Cyberport.