Animoca co-leads $88m funding for Hex Trust digital asset custody
Summary
Last year Hex created a joint venture with Animoca to provide secure wallets and financial services to gamers. Animoca, with its successful blockchain games such as The Sandbox and wide range of investments, can introduce a lot of volume for Hex. “As large institutions continue adopting digital assets at an increased pace, they need fully licensed custody services to meet compliance and regulatory standards,” said Alessio Quaglini, CEO and co-founder of Hex Trust. “Our mission at Hex Trust remains the same: to stay ahead of the curve in terms of licensing and compliance, integrating the latest developments.” The startup mentioned several other clients that it onboarded in the last year, including Algorand, Terraform Labs, Tezos, Celo, Flare Networks, Huobi Asset Management, UnionBank of the Philippines, Ripple Labs, DLA Piper, Sun Hung Kai, Slow Ventures, HOF Capital, and Arrington Capital. Some of these names are on the list of other participants in the Series B round that included Ripple, Terra, Morgan Creek, Primavera Venture Partners, LeadBlock Partners, Eterna Capital, Sino Global Capital, Topaz, Adrian Cheng (CEO of Hong Kong real estate giant New World Development), BlockFi, CoinList, Protocol Labs, Pulsar Trading, and Wintermute.
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