Hex Trust, a financial service provider for digital assets, has just announced the acquisition of Byte Trading for an undisclosed price.
This move aims to improve Hex Trust's market services and premium services for institutional investors, marking a new milestone in the company's development from a custodian of assets to a comprehensive financial organization.
The agreement was announced on Friday, after Hex Trust launched its E-Trading service in November 2024 and completed a recent funding round with Morgan Creek Digital, bringing the total capital that the company has raised to over $100 million. By integrating Byte Trading's low-latency trading platform into a regulated and secure infrastructure, Hex Trust aims to provide seamless execution services and expand its institutional-grade offerings.
"The acquisition of Byte Trading is a significant milestone in Hex Trust's development strategy," said Hex Trust CEO Alessio Quaglini in a prepared statement. "Their leading technology accelerates our transformation, enabling us to meet the growing demands of institutional investors in the digital asset space."
Hex Trust's expansion does not stop at custody and staking; the company launched HT Market MENA in December, allowing institutional investors to convert cryptocurrencies to fiat through its licensed custodial platform. They have also recently partnered with the DeFi protocol Clearpool to introduce Ozean, a blockchain platform focused on real-world asset yields.
Whether Hex Trust's efforts will attract the interest of institutional investors remains to be seen. According to a recent survey by JPMorgan Chase, 71% of investors are expected to steer clear of cryptocurrencies by 2025.
The Future of Hex Trust
In the context of the rapidly growing digital asset sector, Hex Trust continues to expand and enhance its services to serve institutions. This move not only reflects the company's sustainable growth strategy for 2025 but also reaffirms its commitment to meeting customer needs.
Hex Trust has been granted three Virtual Asset Service Provider licenses from the Dubai Virtual Assets Regulatory Authority (VARA), allowing the company to deploy a diverse range of services. Among these, custodial, brokerage, and trading of virtual assets are the key areas the company is focusing on. The subsidiary HT Markets MENA FZE is also an important part of this ecosystem, providing financial solutions for the MENA market.
In addition, Hex Trust has also developed OTC trading solutions, helping organizations effectively manage their asset risk while enhancing access to abundant liquidity. This combination creates a solid platform for clients to conduct effective and secure transactions.
Since opening its official office in Dubai in June 2022, Hex Trust has continuously worked to expand its presence in the MENA region. The company has established strategic partnerships with VARA to create a safe and transparent cryptocurrency trading environment. This move facilitates the adoption of high industry standards, thereby ensuring customer trust in complex financial transactions.
By investing in advanced technology and improving service processes, Hex Trust is gradually asserting its position in the digital asset industry. The company has proven that it is ready to face the challenges and opportunities in an increasingly complex institutional market, thus providing quick and flexible solutions.
Looking ahead, Hex Trust aims not only to scale its services but also to enhance service quality. This includes developing new products and services while expanding its network of partners both within and outside the region. Hex Trust views this as a crucial part of its long-term development strategy, aiming to build a comprehensive and modern virtual asset ecosystem.
Conclusion
With its relentless efforts, Hex Trust is establishing its position in the digital asset sector while contributing to meeting the increasingly diverse needs of the institutional market. The company is committed to providing comprehensive, secure, and transparent solutions that help clients overcome the inherent challenges in the industry, thereby opening up unlimited growth opportunities in the future.