Catenaa, Friday, February 21, 2025 – Hex Trust, a Hong Kong-based crypto custodian, has acquired Byte Trading to enhance its institutional offerings, the company announced Friday. The terms of the deal were not disclosed.
The acquisition integrates Byte Trading’s low-latency trading technology into Hex Trust’s existing custody and prime services, marking a significant step in the firm’s expansion strategy. The move follows the November 2024 launch of Hex Trust’s E-Trading platform.
“The acquisition of Byte Trading marks another important milestone in our strategic development,” Hex Trust CEO Alessio Quaglini said.
“Their best-in-class technology accelerates our transformation from a custody provider to a full-service financial institution.”
The announcement comes shortly after Hex Trust secured fresh funding in a round led by Morgan Creek Digital, with participation from multiple global investors, including Injective. The investment precedes a planned Series C funding round expected later in 2025.
Founded in 2018, Hex Trust provides custody, staking, and investment services to banks, funds, and institutional investors.
The firm is betting that an integrated platform combining custody and execution will drive broader institutional adoption of digital assets.
