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

CoinDesk and Imperii Partners LLC Oct 5, 2021

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

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.
  • "As the leading custody provider in Asia, we are excited to support the Hex Trust team in this next phase of growth" said Tony Scuderi, CEO of Imperii Partners.
  • 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.
    Read more: Animoca Completes Funding Round, Gets an Extra $50M From Coinbase, Samsung

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.