Crypto Custodian Hex Trust Raises $10M in Latest Investment Round Led by Animoca Brands

The capital will go toward expansion efforts, security and market infrastructure of the Hex Safe custodial platform.

AccessTimeIconOct 5, 2021 at 1:48 a.m. UTC
Updated Oct 5, 2021 at 1:51 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Crypto custodian Hex Trust has secured $10 million in fresh funding to further the market infrastructure and security of its licensed custody platform, Hex Safe.

  • Animoca Brands, a gaming and non-fungible token startup, led the round. Participation also came from the Algorand Foundation, BCW Group, Double Peak Group, Mind Fund, Ripple Labs, Tessera Capital Partners and Token Bay Capital.
  • Firms that participated in Hex Trust’s $6 million Series A funding round in March also invested in the latest round, including Borderless Capital, Cell Rising Capital, Kenetic Capital, Mantra DAO, QBN Capital, and Radiant Tech Ventures.
  • Hex Trust’s fresh funds will go toward furthering its market infrastructure and security frameworks underpinning its Hex Safe custody platform, the firm said in a press release Tuesday. The capital will also fund the company’s expansion in Singapore and Vietnam as well as establish a footprint in Europe and the Middle East.
  • Last month, the custodian secured a license to provide custodial services from the Monetary Authority of Singapore under the country’s Securities and Futures Act.



DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Sebastian Sinclair is a CoinDesk news reporter based in Australia.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


CoinDesk - Unknown

Sebastian Sinclair is a CoinDesk news reporter based in Australia.