Hex Trust, a Hong Kong-based digital assets financial service provider specializing in custody, staking, and market services, has successfully secured a strategic funding round led by Morgan Creek Digital with participation from global investors including Injective.

Hex Trust said in a statement on Friday that this new funding brought its total funding to date to over $100 million.

This latest investment also marks a pivotal milestone as Hex Trust prepares for its Series C raise anticipated for later in 2025.

With a growing demand for institutional-grade digital asset solutions, Hex Trust said the firm continues to build its reputation as the trusted partner for builders, institutional investors, and service providers.

The funding will be deployed on strategic opportunities in Hex Trust’s expanding staking and markets businesses, including potential strategic acquisitions.

The funding enhances Hex Trust’s ability to scale operations and further establish itself as a market leader in institutional digital asset services.

This strategic funding also establishes a strong foundation for the upcoming Series C raise, and reinforces the firm’s commitment to providing institutions with secure, scalable, and innovative digital asset solutions.

“The funding paves the way for our Series C investment round as we continue to expand, innovate and enhance the digital asset services we provide to our rapidly growing institutional client base,” said Alessio Quaglini, Chief Executive Officer and Co-founder of Hex Trust.

Xavier Segura, General Partner of Morgan Creek Digital, said that with over 300 institutional clients and more than $5 billion in assets under custody, the firm believes Hex Trust has demonstrated its capability to address the complex needs of institutional clients.

“We think their focus on regulatory compliance, security, and seamless integration with legacy institutional portfolios has positioned them to serve the growing demand in the digital asset ecosystem in Asia Pacific (APAC) and beyond,

“With this financing, we have conviction in the team’s disciplined approach and ability to continue expanding their market presence,” he added.

Founded in 2018, Hex Trust provides licensed digital asset custody, staking, markets and investment solutions to over 300 institutional clients, including banks, funds, exchanges, financial institutions, protocols, brokers, and foundations.

The firm has a presence in Hong Kong, Singapore, Dubai, France, and Italy.

Morgan Creek Digital was formed in 2018 to focus primarily on venture capital investments in digital innovation.

The firm has deployed more than $400 million across previous funds and special purpose vehicles.

Led by General Partners, Mark Yusko, Sachin Jaitly, and Xavier Segura, the Morgan Creek Digital team focuses on artificial intelligence, blockchain technology, computing infrastructure/chips, and big data.

Morgan Creek Digital will deploy capital through an inclusive strategy that seeks to back a diverse group of founders.

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