Hex Trust Expands Institutional Offerings with Acquisition of Byte Trading

Hex Trust, a leading digital asset financial services provider, has acquired Byte Trading, a move that aims to enhance its markets and prime services for institutional investors. The acquisition marks a significant milestone in Hex Trust’s evolution from a custodian to a full-service financial institution.

The agreement follows Hex Trust’s launch of E-Trading in November 2024 and a recent funding round with Morgan Creek Digital, which has brought the company’s total capital raised to over $100 million. By integrating Byte Trading’s low-latency trading platform into its secure, regulated infrastructure, Hex Trust aims to offer seamless execution and expanded institutional-grade services.

“The acquisition of Byte Trading marks another important milestone in Hex Trust’s strategic development,” said Hex Trust CEO Alessio Quaglini. “Their best-in-class technology accelerates our transformation, empowering us to meet the growing demands of institutional investors in the digital assets space.”

Expansion Beyond Custody and Staking

Hex Trust’s expansion goes beyond custody and staking, with the company launching HT Market MENA in December, enabling institutional investors to convert crypto to fiat through its licensed custody platform. The firm has also partnered with DeFi protocol Clearpool to introduce Ozean, a blockchain platform focused on real-world asset yield.

Challenges Ahead

According to a recent survey, 71% of investors plan to avoid cryptocurrency in 2025. Despite this, Hex Trust continues to scale its institutional offerings, signaling the company’s aggressive growth strategy for 2025, with further expansion plans on the horizon.

Regulatory Compliance

Hex Trust holds three Virtual Asset Service Provider licenses from Dubai’s Virtual Asset Regulatory Authority (VARA), covering custodial services, brokerage and dealing, and virtual asset management. The company offers OTC trading solutions, corporate treasury risk management, and deep liquidity access.

Since opening its Dubai office in June 2022, Hex Trust has focused on expanding in the MENA region while collaborating with VARA to ensure a secure crypto trading environment.

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