Hex Trust buys Byte Trading to draw institutional investors
Hex Belief, a digital asset monetary companies supplier, has acquired Byte Buying and selling for an undisclosed value.
The transfer goals to reinforce Hex’s markets and prime companies for institutional traders whereas marking a brand new milestone within the startup’s evolution from a custodian to a full-service monetary establishment.
The settlement, introduced Friday, follows Hex Belief’s launch of E-Buying and selling in November 2024 and a latest funding spherical with Morgan Creek Digital, bringing its whole capital raised to over $100 million. By integrating Byte Buying and selling’s low-latency buying and selling platform into its safe, regulated infrastructure, Hex Belief goals to supply seamless execution and expanded institutional-grade companies.
“The acquisition of Byte Buying and selling marks one other vital milestone in Hex Belief’s strategic improvement,” Hex Belief CEO Alessio Quaglini mentioned in a ready assertion. “Their best-in-class expertise accelerates our transformation, empowering us to fulfill the rising calls for of institutional traders within the digital belongings house.”
Hex Belief’s growth goes past custody and staking, with the corporate launching HT Market MENA in December, enabling institutional traders to transform crypto to fiat via its licensed custody platform. The agency additionally not too long ago partnered with DeFi protocol Clearpool to introduce Ozean, a blockchain platform targeted on real-world asset yield.
Whether or not Hex’s efforts will pique the pursuits of institutional traders stays to be seen. In accordance with a latest JPMorgan Chase survey, 71% of traders plan to keep away from cryptocurrency in 2025.
What’s subsequent for Hex Belief
As Hex Belief continues to scale its institutional choices, this acquisition alerts the corporate’s aggressive progress technique for 2025, with additional growth plans on the horizon.
Hex Belief holds three Digital Asset Service Supplier licenses from Dubai’s Virtual Asset Regulatory Authority (VARA). The corporate covers custodial companies, brokerage and dealing, and digital asset administration—beneath which HT Markets MENA FZE operates.
The agency additionally provides OTC buying and selling options, company treasury danger administration, and deep liquidity entry.
Since opening its Dubai workplace in June 2022, Hex Belief has targeted on increasing within the MENA area whereas collaborating with VARA to make sure a safe crypto buying and selling setting.
