Hex Trust has announced the acquisition of Byte Trading, a strategic move to enhance its market and prime services for institutional investors.
This acquisition follows the launch of Hex Trust’s E-Trading platform in late 2024 and a successful funding round with Morgan Creek Digital in early 2025.
Advancing Beyond Custody Services
Hex Trust, originally known for its secure digital asset custody solutions, is now broadening its offerings with this acquisition. Byte Trading’s low-latency trading platform will be integrated into Hex Trust’s institutional-grade infrastructure, providing clients with seamless and efficient trade execution.
Alessio Quaglini, CEO and Co-founder of Hex Trust, emphasized the significance of this acquisition in a written statement. He stated that Byte Trading’s technology will accelerate Hex Trust’s transition into a full-service financial institution, allowing the company to better serve the growing demands of institutional investors in the digital asset space.
Strategic Growth and Future Expansion
This acquisition is part of Hex Trust’s broader expansion plans for 2025. With increasing institutional interest in digital assets, the company is strengthening its market position by integrating advanced trading capabilities.
The move follows a recent investment round led by Morgan Creek Digital, which brought Hex Trust’s total funding to over $100 million. The company is also preparing for its Series C funding round later this year, signaling further growth ambitions.