ICYMI: Ripple took part in Hex Trust's Series B funding round
Its $88 million Series B funding round, which was led by seed-stage fund Liberty City Ventures and non-fungible token start-up Animoca Brands, also had high-profile blockchain project Terra, investment firm Morgan Creek Capital and financial institution BlockFi among its participants. The company has now secured roughly $100 million in total funding.
In October, Hex Trust raised $10 million in order to develop its Hex Safe custody platform. The round was led by Animoca Brands. Hex Trust is Asia's leading cryptocurrency custodian, which also provides services in the realm of custody, decentralized finance and brokerage. It boasts $5 billion worth of assets under management with over 200 institutional clients. Its services support more than 200 tokens.
The company, which was founded back in 2018, is yet to reach profitability, but Hex Trust has other priorities for now. Alessio QuagliniAfter significant fundraising, Quaglini is optimistic about the future of the industry, claiming that blockchain will be"the new infrastructure" of global finance.
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