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

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 unicorn, led the round. Participation in the investment round also came via Ripple Labs, Algorand Foundation, BCW Group, Tessera Capital Partners, Mind Fund, Double Peak Group, and Token Bay Capital.
  • Those who recently participated in Hex Trust’s $6M Series A in March also invested including QBN Capital, Kenetic Capital, MANTRA DAO, Borderless Capital, Radiant Tech Ventures, and Cell Rising Capital.
  • 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 new capital will also fund the company’s expansion across its Singapore and Vietnam offices 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.

Read more: Animoca Completes Funding Round, Gets an Extra $50M From Coinbase, Samsung

Author: Sebastian Sinclair

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