Hex Trust, an emerging player in the crypto custodian landscape, has recently announced that it has secured $88 million in Series B funding. This news not only highlights the strong potential of the cryptocurrency custodian industry but also the potential of Hex Trust’s custodial services for institutional investors.
This article will discuss the benefits of Hex Trust’s custodial solutions and why they are ideal for institutional investors.
Overview of Hex Trust
Hex Trust is the market leader in providing custody solutions for institutional investors and high-net-worth individuals. Founded in 2020, it is at the forefront of the digital asset custodian industry, setting a new security, control, and transparency standard. The company’s core services include secure storage, asset digitization, and liquidity management solutions. In addition, it provides safekeeping services to institutions and individuals looking to protect their digital assets from potential hacking or cyber threats.
At Hex Trust, we strive to provide investors with the tools and expertise they need to safely add digital assets like Bitcoin and Ethereum into their portfolio. We offer an innovative suite of secure custody solutions uniquely tailored to meet each investor’s needs. Through our cutting-edge technology platform and risk management processes, we strive to bring trust into an otherwise unregulated ecosystem by creating a secure environment within which institutions can securely store digital assets with ease of mind.
Our team is composed of seasoned professionals worldwide who have extensive experience in banking regulations and secure storage technologies such as biometrics authentication. These professionals ensure that each client’s wallet environment is isolated from other users’ devices while safeguarding their funds with advanced security measures like encryption techniques that protect users’ wallets from external threats.
With our robust platform features such as multi-signature storage options, withdrawal restrictions based on certain parameters set by clients – including: timeframes; dematerialization; redemption frequency; on/off ramping interface; insurance coverage; among others – Hex Trust aims at serving institutional customers in an ever changing crypto ecosystem where trust plays an essential role for investments decisions makers. Our offering allows them to access a two-tier custody solution and benefit from cost effective and higher security protocols than those available on the market today.
Overview of Series B funding
Hex Trust, a crypto custodian and asset-management solutions provider, has raised $88 million in Series B funding. Citadel led the round with participation from previous investors including Tiger Global, Octahedron Capital and UP Holdings.
The funds will further advance Hex Trust’s institutional-grade custody solutions for digital assets, including Bitcoin, Ethereum and other crypto assets. With this capital injection from top-tier investors, the company aims to expand its product offerings while scaling its operations globally. Hex Trust will also use the funds to hire talent worldwide and grow its brand positioning in the institutional digital assets space.
The new funds bring Hex Trust’s total funding raised to date up to $110 million. Other investors in Round B include Coatue Management, Pivotal Ventures and CryptoQuant CEO Ki Young Ju backed 9 Yards Capital and Firebrand Ventures, Stonehenge VC, LongHash Venture Capital and Arrington XRP Capital.
Hex Trust’s Custody Solutions
Hex Trust, a crypto custodian, has announced that it has raised $88 million in Series B funding.
Hex Trust is a full-service custodian that provides secure and compliant custody solutions for institutional investors, specifically in the crypto space.
Let’s take a closer look at the services that Hex Trust offers.
Digital asset custody
Digital asset custody has become increasingly important in the institutional investment landscape as more investors look to diversify their portfolios with cryptocurrencies. Hex Trust provides secure custody solutions for various digital assets, allowing investors to store their goods safely and securely. In addition, the custodian complies with the industry’s highest regulatory standards, and offers 24/7 customer support to answer any questions or concerns that may arise during the storage process.
Hex Trust’s solution provides a secure storage protocol across multiple asset classes, safeguarding digital assets and reducing counterparty risk. Additionally, they offer multisig wallets as part of their offerings to ensure that transactions are authorised by two or more parties and eliminate single points of failure. The custodian also uses cold storage services (offline) to ensure further security against malicious threats such as hacking or other cybersecurity breaches.
Furthermore, Hex Trust utilises a proprietary algorithm that regularly checks for activity anomalies — alerting customers if anything out of the ordinary occurs on their accounts so operational issues can be addressed quickly and efficiently. As part of its suite of services, it also provides insurance coverage from major insurers for customers’ crypto-assets stored in its custody solutions against loss or theft (up to a certain amount).
Security features
Hex Trust provides its institutional investors security and privacy to protect their digital assets. This is accomplished through several layers of protection that Hex Trust has designed and developed in-house.
The most secure way to store digital assets is by using a Digital Vault – a multi-tiered system which encrypts data and requires several authenticated keys to access it. Hex Trust also offers its clients notification services, which inform them if any activity involving their digital assets is detected, enabling them to take corrective action if necessary.
In addition, Hex Trust’s custody solution uses an advanced malware monitoring system that scans for potential threats on its clients’ networks while actively blocking any malicious activity that could compromise the security of their digital assets. It also employs best-in-class encryption protocols across all levels of authentication to ensure that information cannot be accessed without proper authorization. Furthermore, each transaction involving its clients’ digital assets is monitored in real time to detect any suspicious activity before it happens.
Finally, Hex Trust uses auditing features to provide detailed records for every single transaction and reports on the overall performance of its custody solutions for institutional investors – providing further assurance that all customers experience a secure custodian environment at all times.
Regulatory compliance
Hex Trust’s industry-leading custody solutions are designed to provide a secure and reliable platform for institutional investors who seek to protect and maximise their investments in
digital assets. Our platform is built with robust risk, compliance and financial management capabilities to ensure that customer funds remain safe, compliant and liquid.
Our core offer includes a comprehensive suite of integrated regulatory, legal, risk management and operational tools covering a wide range of traditional financial services. In addition, we have implemented several measures to maintain our commitment to building the highest-quality technology for digital asset custodians. This includes enhanced due diligence on funds entering the platform; increased active monitoring; detailed securities reports; audited customer holdings calculations; secure multisig wallets; and automated regulatory compliance reports.
Our commitment extends beyond these features – our team of experts is available 24/7 to provide advice and support when needed. In addition, we offer dedicated post-trade customer service through our in-house office or via telephone or email communications with our dedicated support team. We aim to ensure investors have the best possible experience when choosing Hex Trust as their crypto custodian.
Benefits of Hex Trust’s Custody Solutions
Hex Trust’s custody solutions for institutional investors provide a secure storage solution for digital assets such as cryptocurrencies, tokens and digital art.
This recently raised $88 million in Series B funding, and is now one of the leading crypto custodians in the industry.
Let’s understand why institutions are turning to Hex Trust’s custody solutions.
Increased security
Hex Trust’s custody solutions for institutional investors provide advanced security features that protect crypto assets from malicious actors. Some of these features include multi-signature wallets, which require multiple user approvals to confirm a transaction; hardware security modules (HSMs) that protect and secure crypto asset keys; and wallet redundancy, which ensures the availability of wallets in the event of a natural disaster or other untoward incident.
These security measures are designed to maximise safety while ensuring maximum uptime with uninterruptible service. In addition, Hex Trust also offers two-factor authentication (2FA), which requires two separate methods to authenticate a user before access is granted to an account—increasing the security of account holders’ assets while reducing the risk of unauthorised access.
Improved investor confidence
Hex Trust’s comprehensive security measures and add-on services provide institutional investors a much-needed layer of trust and confidence regarding their digital assets. With state-of-the-art cybersecurity measures such as two-factor authentication, layered encryption, segregated user accounts and secure data backup, clients can ensure their investments are safe. Furthermore, customers gain access to a suite of additional custodial options designed to automate tasks like fund transfers, while minimising fraud risk.
Moreover, Hex Trust’s team of experts provides ongoing customer service with insight on key developments in the crypto space that could lead to future strategic opportunities for their clients. This includes comprehensive reports about global exchanges, token performance trends, and analysis of new innovations such as Security Token Offerings (STOs). Institutions can confidently make decisions about their investments with minimal risk by having this additional level of knowledge at their fingertips.
Increased liquidity
Cryptocurrency custodianship provider Hex Trust has raised $88 million in Series B funding. This capital injection will help catapult the company to the next level and provide a wide range of offering and solutions to institutional investors.
One key benefit of Hex Trust’s custody solutions is the increased liquidity it provides to investors. With their multi-signature, cold storage, compliant platform, funds can be moved quickly and securely, thus allowing investors to access their funds more easily. This heightened liquidity – especially in highly volatile markets – gives investors greater flexibility for managing funds. Additionally, with built-in measures for blockchain asset risk prevention, investors can have peace of mind that their holdings are secure and protected from various threats.
Hex Trust also offers additional services such as 24/7 customer service across multiple regions, white label solutions for businesses seeking custody services under their brand name; and API integration for online exchanges to accept digital assets from its customers quickly without having their infrastructure in place. All these features contribute significantly towards creating a safe platform for institutional investors looking to increase their exposure into blockchain assets without compromising safety or convenience.
Hex Trust’s Series B Funding
Hex Trust, a crypto custodian, has recently closed a Series B funding round worth $88 million, bringing the total funds raised by the company to $118 million. Digital Currency Group led the round, with Canaan Partners Growth, Galaxy Digital, LionTree, and Digital Strategies participation.
This capital infusion is expected to help Hex Trust meet the demand for institutional-grade custody solutions for digital assets such as cryptocurrencies.
Investors
Hex Trust is thrilled to announce that the company has closed a $88 million Series B funding round. The round was oversubscribed, as many investors recognize the value of Hex Trust’s institutional-grade digital asset custody solutions.
The eighteen investors in this round include Large Venture Funds, Family Offices, Crypto focused Funds and Market Makers. This round is led by Galaxy Digital and Two Sigma Ventures with participation from KAYA Ventures, Ember Fund and Capital Group among others.
The funds will be used primarily to accelerate the development and deployment of cutting-edge custody solutions in digital assets that expand Hex Trust’s institutional offering and further establish Hex Trust as the premier digital asset custodian for institutional investors. With offices worldwide, Hex Trust has solidified its development team across Europe, Asia, Australia and Latin America.
These funds will allow them to focus on three areas—scaling their product globally to support more varied markets, enhancing their platform with new compliance features and bringing deeper cyber security protection for institutions worldwide including Bank Grade ISO Certifications (27001).
Use of funds
To meet the ever-growing demand for secure custody solutions for institutional investors, Hex Trust has raised $88 million in a Series B round led by Digital Currency Group. The investment will help Hex Trust continue to provide institutions with reliable and cost-effective cold storage options that give its clients access to global markets while protecting their assets against theft or loss.
The funds will be used to invest in research and development, expand the company’s suite of security measures, increase sales and marketing efforts, and grow its customer base. It will also go towards expanding new products such as its custody solution that provides security tokens to investors with enhanced asset integrity. These investments will help ensure compliance with regulatory requirements and provide premium services to customers who rely on Hex Trust’s custodial solutions for their users’ assets.
Additionally, the funding will enable Hex Trust to strengthen existing relationships with partners and form new partnerships in various countries to extend its global reach.
Plans
The funds from the Series B funding round will enable Hex Trust to expand its solutions across the globe. The company is actively building a network of partners of different sizes, allowing institutions to benefit from its custody solutions in various domains, including blockchain-based and digital assets.
Additionally, Hex Trust plans on launching more services shortly that will help it provide a more comprehensive offering. This includes developing enhanced data solutions to allow organisations to better control and manage their digital asset holdings and incorporating more advanced security measures into their existing services such as two-factor authentication and biometric access controls.
Hex Trust also intends to upgrade its compliance solutions with support for global regulations that respond to changing market conditions worldwide. In addition, it focuses on providing an enterprise-grade custodian service with fully audited protocols to ensure organisations have complete transparency into their digital asset portfolios.
Furthermore, Hex Trust’s growth ambition for 2021 involves expanding its presence in Asia and other emerging markets and introducing complementary services tailored for institutional investors’ custom needs. The strategic move is expected to contribute significantly towards building trust and reliability within the cryptocurrency community, laying strong foundations for infrastructure companies that shine sustainable development within the space over time.