Hex Trust Expands Market Operations with Acquisition of Byte Trading
In Brief
In a strategic move, Hex Trust has disclosed its acquisition of Byte Trading, aiming to bolster its market and prime services tailored for institutional investors.
Provider of financial services for digital assets Hex Trust announced its acquisition of Byte Trading . This acquisition enables Hex Trust to broaden and enhance its offerings in market and prime services designed for institutional investors. After launching E-Trading in November 2024 and completing a successful fundraising round with Morgan Creek in February 2025, this step marks a pivotal point in Hex Trust's journey from a custodian to a comprehensive financial entity.
"The acquisition of Byte Trading represents a significant advancement in Hex Trust's strategic growth trajectory,\" stated Alessio Quaglini, CEO & Co-founder of Hex Trust, in an official release. \"Their cutting-edge technology accelerates our shift from a custody provider to a holistic financial institution, allowing us to cater to the increasing requirements of institutional investors in the digital asset sector,\" he remarked.
Byte Trading’s high-performance trading platform will be seamlessly integrated within Hex Trust’s secure and regulated infrastructure, facilitating efficient trade executions. This acquisition signifies Hex Trust’s venture beyond mere custodial and staking services, positioning the firm to deliver a comprehensive institutional trading and execution platform.
As the inaugural acquisition for Hex Trust, this move is emblematic of its significant growth strategy, with additional expansion initiatives already on the horizon for 2025. With numerous opportunities arising in the digital asset realm, combined with a fruitful strategic fundraising effort in partnership with Morgan Creek, Hex Trust is poised to enhance its market presence and drive greater institutional engagement with digital assets.
Hex Trust Attracts Over $100M in Investment from Morgan Creek Digital
Founded in 2018, Hex Trust provides secure regulated custody, staking, and market services for institutional clients, encompassing asset managers, investors, and participants in the blockchain ecosystem. Their proprietary, fully integrated framework is designed to provide a robust and adaptable suite of services tailored specifically for institutional requirements.
Recently, Hex Trust successfully completed led by a strategic funding round from Morgan Creek Digital, with backing from international investors such as Injective. With total funding now surpassing $100 million, this capital injection marks a crucial milestone as the company gears up for its anticipated Series C funding round planned for late 2025.
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