Hex Trust, the Hong Kong based cryptocurrency custody provider has raised a whopping $88M in series A funding. Their crypto custody solution is focused on the gaming sector, which is aimed at providing gamers with a secure and efficient way to store and manage their cryptocurrency assets when playing online games.
This new solution hopes to revolutionise the gaming industry and bring more gamers into the crypto space. In this article, we will explore the details of Hex Trust and their new solution and its potential implications for the gaming market.
Hex Trust Raises $88M for Crypto Custody Focused on the Gaming Sector
Hex Trust, a digital asset custodian focused on the gaming sector, has raised $88 million in its latest funding round led by 10T Holdings and collaborators including DFG Group, Soroban Capital Partners and K7 Ventures. This capital will go towards developing Hex Trust’s crypto custody solutions specifically catering to gaming companies.
The gaming industry is increasingly turning to cryptocurrency for payments and asset storage due to their high security, traceability, and reliability levels. Hex Trust provides secure wallets with multi-signature authentication technology that enables enterprises and individuals to safely store their digital assets in an immutable environment. In addition, the platform ensures a secure path for users to transfer valuable data without fear of an intrusion or data breach by third-party hackers.
Beyond protecting users’ digital assets from external threats, Hex Trust provides multiple layers of security within its protocols including hash algorithm credential verification (HACV), out-of-band authentication processes (OOABAP), full transaction encryption (FTE) as well as rack scale architecture (RSA). These layers work together to create a more robust than traditional custodial infrastructure so users can have complete peace of mind when using the platform. Additionally, with a solution tailored specifically for gamers, Hex Trust offers an end-to-end solution replete with features such as quick deposits, fast withdrawals and integration with games across different platforms (PC, console and mobile).
Overview of the gaming sector
The gaming sector has grown rapidly in the past few years, with more and more people looking to get involved in the market. In addition, the demand for new and innovative products has become profound, due to the popularity of video games, mobile games, virtual and augmented reality, eSports and streaming. As a result of this growth, the gaming sector is now an important part of the global entertainment business.
Cryptocurrency has become increasingly popular regarding game payments and purchases for these reasons. Consequently, there is an increased need for reliable cryptocurrency security services to support customer needs. Hex Trust has identified this need and offered a new solution to protect digital currency assets focused on the gaming sector.
In addition, with the volatility within the crypto market, holding digital currencies is highly risky; therefore custodial services must be secure enough to protect customers’ currency from being stolen or hacked. To achieve this level of safety and security, a separate track record of filing financial statements with regulators as well as periodic security reviews by external auditors will be necessary – which HexTrust have been able to provide with its raised capital value of $88M allowing users to feel secure that their digital currencies are safe when using their gaming platforms.
Hex Trust’s Crypto Custody Solution
Recently, Hex Trust, a crypto custody service, has raised $88 million in a Series A funding round, enabling them to expand the security of their services for the gaming sector. The investment comes from well-known venture capital firms such as Accel, Plug, and Play Ventures.
Hex Trust offers a secure platform for developers, service providers, and users targeting the gaming industry. This investment is expected to help expand the development in the gaming industry.
Benefits of Hex Trust’s crypto custody solution
Hex Trust has recently closed a $88 million Series B fundraising round, which will go towards developing its crypto custody offering for the gaming sector. The funding comes from major industry players such as Walden International, Greenoaks Capital, and Legion Capital.
Hex Trust’s crypto custody platform is designed specifically for asset-backed tokens in the gaming sector. It seeks to streamline processes while providing a higher level of security than traditional financial institutions. Major benefits of Hex Trust’s solution include:
• Enhanced data protection – Hex Trust leverages cold wallet storage and multi-layer security protocols to ensure maximum user data safety. This includes server-level encryption and two-factor authentication to guarantee that sensitive information is stored in compliance with industry regulations.
• Lower operating costs – Using digital currencies minimises costs associated with transaction fees, enabling businesses to maintain healthy profit margins in the gaming space.
• Greater liquidity – Digital assets on the Hex platform can be quickly converted into cash or cryptocurrency depending on market conditions, allowing businesses to take advantage of short-term price changes and long-term investment opportunities.
• Increased scalability – Using blockchain technology, user interactions are significantly sped up while providing instantaneous access to funds anytime. This enhances gaming firms’ ability to rapidly scale operations without being restricted by processing speeds or expensive fees associated with banks or payment providers.
Features of Hex Trust’s crypto custody solution
Hex Trust’s crypto custody solution for the gaming sector has raised $88 million in a Series A round of funding. Hex Trust is a provider of secure blockchain-based digital asset security solutions that can be used to store digital assets like Bitcoin and Ethereum, among other digital currencies. The platform offers multi-signature support, asset segmentation, and multi-layer security systems to ensure maximum user safety and protection. Hex Trust’s solution also includes support for private and public keys, making it difficult for hackers or malicious actors to access the user’s funds.
Other features include real-time insights into the security posture of digital assets stored on the platform, allowing users to make timely decisions around their asset management. Also included is an “approval” workflow for business users who can view and approve incoming transactions before execution and controls designed to protect against errors and unauthorised behaviour. On top of this, Hex Trust offers regulatory compliance services to ensure its customers are adhering to relevant laws when it comes to cryptocurrency holdings.
These features provide a comprehensive suite of solutions for gamers looking for secure crypto custody solutions that will help keep their funds safe from hackers or unexpected events such as system outages.
Hex Trust’s $88M Funding Round
Hex Trust, a blockchain-based crypto custody solution focused on the gaming sector, has just completed a $88 million Series A funding round. This news comes as a major milestone in the company’s development and puts them on track to becoming a major player in the gaming industry from a crypto-custody standpoint.
Look at what Hex Trust’s funding round could mean for the sector.
Investors involved in Hex Trust’s funding round
Hex Trust announced a $88M funding round on May 12. The round was led by ZQ Capital, Sterlin Lux Capital, and Apache Capital, with participation from DFG Group, FD7 Ventures, Lemniscap, Iconiq Strategic Partners/Iconiq Lab, Kryptove Ltd., Animoca Brands CVC Fund and Sparkland Capital. Additionally Sigma Prime Ventures from Australia was also reported as an investor in this round currently closed.
Hex Trust will use the funding to develop its crypto custody solution focused on the gaming sector. It will be the first of its kind regarding customer experience enhancements — providing instant access to funds for players and developers for security and convenience. In addition, Hex Trust is looking to build usable solutions suited specifically for gaming developer needs and integrating as seamlessly as possible with existing platforms.
These enhancements should also include simplified account access controls and advances in compliance infrastructure measures that can benefit the entire sector.
Purpose of Hex Trust’s funding round
Hex Trust recently closed a $88 million investment round to power its cryptocurrency custodial services aimed at the video gaming industry. Hex Trust is a crypto custodial solution designed to provide a secure and efficient way of handling digital assets. The new funding will support their mission of avoiding the risks associated with digital asset storage and provide users an infrastructure that allows for seamless management, integration and trading of virtual currency.
The company’s approach provides peace of mind to users in the digital asset management space. With the funding, Hex Trust will continue developing its services, adding new features, and offering tailored solutions to address their customer requirements. The company also plans to improve their anti-fraud measures and guard against malicious attacks while providing a comprehensive asset insurance policy for clients who choose them as their service provider.
The funding round was led by Descent Capital, with additional investors such as Alameda Research Fund, A&E Investment Group, Blockchain Fund Asia, HashKey Capital, Plug & Play Ventures China, SB Pan Pacific Incubator (SBCVC), True Global Ventures as well as several other individual investors participating in this financing round. With this support from venture capital firms and investors around the globe, Hex Trust is poised to cement its place in the cryptocurrency institutional market to make it easier for companies in the gaming sector to securely store and manage crypto assets.
Impact of Hex Trust’s Crypto Custody Solution on the Gaming Sector
Hex Trust recently announced that it has raised $88M to focus on the gaming sector with its innovative crypto custody solution.
This new development signals a major shift in the gaming sector, as it will foster a more secure and regulated environment for digital assets. In addition, this new solution could help usher in a wave of new investors, while providing essential security capabilities to protect digital assets.
Benefits of Hex Trust’s crypto custody solution for the gaming sector
The gaming industry has always been on the forefront of technology adoption, as its players seek the most advanced gaming experience. With this in mind, Hex Trust’s crypto custody solution for the gaming sector provides reliable security when storing digital assets such as cryptocurrency. Companies in this sector can benefit from the increased safety and stability that a sophisticated crypto custody solution provides.
Hex Trust’s $88M investment will be used to further develop its crypto custodial services by focusing on use cases within the gaming sector. This investment allows for greater scalability and performance for companies looking for more robust and secure management of their digital assets. The solutions provided by Hex Trust reduce operational costs associated with storage and compliance concerns, while also providing top-level protection that goes beyond regular wallets or exchanges.
In addition, Hex Trust’s solution offers access to various security features such as multi-sig access control and transaction approvals from multiple parties, increasing visibility and accountability among its users. These features create a more secure environment for online transactions as companies can complete them more quickly with greater confidence in their security infrastructure. In essence, it’s an added layer of peace of mind regarding player protection against fraudulent activities since many digital assets involve money exchange or virtual item trading between players.
The benefits of utilising Hex Trust’s custodial solution include increased trustworthiness, increased scalability, improved safety protocols, reduced risk of fraud/theft, improved access control among authorised parties, all while reducing time spent managing player digital assets — making it easier to manage virtual economies without sacrificing security or performance.
Challenges of Hex Trust’s crypto custody solution for the gaming sector
Hex Trust’s crypto custody solution for the gaming sector has raised $88M from investors to address challenges posed by the increasing demand for blockchain technology in the online gaming space. The most prominent challenge to Hex Trust’s solution is providing a secure and easy-to-use platform for gamers. This includes keeping digital assets safe from theft and providing an intuitive interface for gamers to interact with and send/receive various tokens.
Another challenge that Hex Trust’s solution must face is to remain compliant with stringent government regulations in an ever-evolving legal landscape. Hex Trust must ensure its services conform to all jurisdictional requirements, such as Anti Money Laundering (AML) and Know Your Customer (KYC) principles, while protecting users’ data simultaneously.
The gaming sector is also a fiercely competitive market which requires Hex Trust’s custody solution to provide a high level of product features and user experience to stay competitive. This involves offering support for multiple currencies, popular payment systems, a wide selection of cryptocurrencies, wallet integrations, high liquidity levels, and minimal transaction fees.
Finally, Hex Trust’s service should be cost-efficient to appeal to individual clients and large businesses. Considering all of these challenges when designing its crypto custody service will thus be crucial in achieving success with its product within the gaming sector.