Crypto custodian Hex Trust has secured $ 10 million in new funds to advance the market infrastructure and security of its licensed custody platform Hex Safe.
- Animoca Brands, a gambling and non-fungible token unicorn, led the way. Participation in the investment round was also made through Ripple Labs, Algorand Foundation, BCW Group, Tessera Capital Partners, Mind Fund, Double Peak Group and Token Bay Capital.
- Those who participated in Hex Trust’s $ 6 million Series A in March also invested, including QBN Capital, Kenetic Capital, MANTRA DAO, Borderless Capital, Radiant Tech Ventures, and Cell Rising Capital.
- The fresh funds from Hex Trust will be used to further develop its market infrastructure and security framework to underpin its Hex Safe depository platform, the company said in a press release on Tuesday. The new capital will also fund the company’s expansion into its Singapore and Vietnam offices, as well as building a presence in Europe and the Middle East.
- Last month, the custodian obtained a license from the Monetary Authority of Singapore to provide custody services under the country’s Securities and Futures Act.
Read more: Animoca Closes Funding Round, Receives Additional $ 50 Million From Coinbase, Samsung