Digital asset custodian Hex Trust has secured an investment from Cyberport, a digital technology hub wholly owned by the Hong Kong SAR government. Hex Trust says the new capital will be used to scale operations, hire key talents across Hong Kong and Asia, and enhance its licensing framework to meet rising institutional demand for digital assets in the region. It did not mention the amount of investment from Cyberport.

The company is also planning to expand into the European market, where it has forged a strategic partnership with SIA, the European leader in banking technology infrastructure. It will continue enhancing its proprietary bank-grade custody platform, Hex Safe, which offers a broad range of custody and treasury management services for cryptocurrencies, security tokens and non-fungible tokens.

An alumnus of the Cyberport Incubation Programme, Hex Trust joined the Cyberport community in 2019 and has been provided with a comprehensive range of support including financial assistance, a variety of business and professional services, as well as investment opportunities.

“The investment from Cyberport is a great vote of confidence, given their track record in backing and developing major unicorns within the industry. Blockchain-based assets are growing in importance with financial institutions mobilizing themselves as blockchain establishes itself as the next financial markets’ infrastructure. Hex Trust will play a leading role in this space, enabling digital assets' adoption for a broad range of regulated financial institutions,” says Hex Trust co-founder and chief executive officer Alessio Quaglini.

Dr. George Lam, chairman of Cyberport, adds: “The National 14th Five-Year Plan indicates clear support for Hong Kong to enhance its status as an international asset management centre. With the advancement of fintech and blockchain technology, digital assets will become one of the most important asset classes.”

Hex Trust was recently honoured as the best custody specialist, digital assets, at The Asset Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers.