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.
Oct 5, 2021 at 1:48 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/TL74ZMVEKZAKRP2D7F7QPCPVZM.jpg)
(Giovanni C. Garnica on Unsplash)
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.
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Sebastian Sinclair is a CoinDesk news reporter based in Australia.
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