Hex Trust, a provider of financial services for digital assets, has acquired Byte Trading, marking a new milestone in its evolution towards full-service offerings for institutional investors.
Acquisition of Byte Trading
Hex Trust acquired Byte Trading for an undisclosed price to enhance its market and prime services for institutional investors. This event marks a significant milestone in Hex Trust's evolution from a custodial company to a full-fledged financial institution.
Hex Trust's Strategic Development
Following the launch of E-Trading in November 2024 and a recent funding round involving Morgan Creek Digital, Hex Trust now integrates Byte Trading's low-latency trading platform into its secure, regulated infrastructure. Hex Trust CEO Alessio Quaglini stated: 'The acquisition of Byte Trading marks another important milestone in Hex Trust’s strategic development. Their best-in-class technology accelerates our transformation, empowering us to meet the growing demands of institutional investors in the digital assets space.'
Future Plans
Hex Trust is actively developing its institutional offerings as part of its growth strategy for 2025. With three Virtual Asset Service Provider licenses in Dubai, the company offers custodial services, brokerage, and virtual asset management. 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.
Attracting institutional investors remains a key goal for Hex Trust in the near future. However, the demand for its services continues to grow, drawing an increasingly broader client base.
