2 years ago
Asia-focused crypto custody supplier Hex Trust has raised $88 cardinal successful a backing circular co-led by Animoca Brands and Liberty City Ventures.
The Series B backing circular volition beryllium utilized to standard to Europe and the Middle East and to get further licenses, the institution said. Hex Trust presently has implicit 100 employees crossed offices successful Hong Kong, Singapore and Vietnam.
“From a licensing perspective, we are getting a licence successful Dubai and we’re studying Europe connected this and wherever to go,” said Hex Trust CEO Alessio Quaglini successful an interview. “Operationally, we are looking astatine opening offices successful the Middle East and Europe.”
Crypto custody firms person travel to command precocious values for providing the analyzable exertion required to safeguard integer assets controlled by regulated institutions similar banks.
Over the past year, Hex Trust has begun moving with high-profile blockchain projects similar Algorand, Terra, Tezos and Celo, arsenic good arsenic institutions similar the UnionBank of the Philippines, the second being portion of Hex Trust’s integration with IBM’s integer assets division.
Other participants successful the backing circular included Ripple, Terraform Labs, Morgan Creek, Primavera Venture Partners, LeadBlock Partners, Protocol Labs and Adrian Cheng (CEO of Hong Kong existent property elephantine New World Development).
“This collaboration [with Animoca] is to bring an institutional-grade level to the GameFi market,” Quaglini said. “Our infrastructure volition beryllium provided to the user basal successful the Animoca Brands ecosystem. So, bringing gamers that don’t cognize however to usage blockchain to existent integer plus ownership.”
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Ian Allison is an award-winning elder newsman astatine CoinDesk. Prior to that, helium covered fintech for the International Business Times successful London and Newsweek online. He holds ETH.
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