Hex Trust Acquires Byte Trading To Expand Markets Operations
In Brief
Hex Trust has announced the acquisition of Byte Trading to expand and enhance its market and prime services offerings for institutional investors.
Digital asset financial service provider Hex Trust announced its acquisition of Byte Trading. This move will allow Hex Trust to broaden and scale its market and prime services offerings for institutional investors. Following the launch of E-Trading in November 2024 and a successful strategic fundraising round with Morgan Creek in February 2025, the acquisition represents a key milestone in Hex Trust’s evolution from a custodian to a full-service financial institution.
“The acquisition of Byte Trading marks another important milestone in Hex Trust’s strategic development,” said Alessio Quaglini, CEO & Co-founder of Hex Trust, in a written statement. “Their best-in-class technology accelerates our transformation from a custody provider to a full-service financial institution, empowering us to meet the growing demands of institutional investors in the digital assets space,” he added.
Byte Trading’s low-latency trading platform will be integrated into Hex Trust’s secure, regulated, and institutional-grade infrastructure, enabling efficient and seamless trade execution. This acquisition marks Hex Trust’s expansion beyond custody and staking services, allowing the firm to offer a full-scale institutional trading and execution platform.
As Hex Trust’s first acquisition, this move represents a significant milestone in its long-term growth strategy, with further expansion plans set for 2025. With increasing opportunities in the digital asset space and following a successful strategic fundraising round with Morgan Creek, Hex Trust is well-positioned to strengthen its market presence and drive greater institutional adoption of digital assets.
Hex Trust Secures Investment from Morgan Creek Digital, Bringing Total Funding to Over $100M
Founded in 2018, Hex Trust provides regulated custody, staking, and market services for institutional clients, including asset managers, investors, and blockchain ecosystem participants. Its proprietary, fully integrated infrastructure is designed to offer a secure and scalable suite of services tailored to institutional needs.
Recently, Hex Trust successfully completed a strategic funding round led by Morgan Creek Digital, with participation from global investors such as Injective. With total funding now exceeding $100 million, this investment marks a key milestone as the company prepares for its anticipated Series C funding round in late 2025.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
