Crypto Custodian Hex Trust Raises $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 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.

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