Hex Trust
Hex Trust is a regulated Hong Kong-based digital asset custodian serving 450+ institutional clients across protocols, financial institutions, and high-net-worth individuals. It offers custody, staking, markets, token wrapping, payments, and wealth management through its proprietary Hex Safe platform, holding $5 billion in assets under custody.
- Company typePrivate
- Founded2018
- HeadquartersHong Kong, Hong Kong SAR China
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Hex Trust does
Hex Trust is a Hong Kong-headquartered, fully licensed digital asset financial institution founded in 2018. It provides institutional-grade custody, markets, staking, token wrapping, payments, and wealth management services to blockchain protocols and foundations, financial institutions, and high-net-worth individuals. The firm operates under a multi-jurisdictional licensing stack that includes the Hong Kong Trust or Company Service Provider (TCSP) regime, a Monetary Authority of Singapore Major Payment Institution registration covering custody and Digital Payment Token services, and Dubai Virtual Assets Regulatory Authority (VARA) authorization for virtual asset custody.
The core technology platform, Hex Safe, is a proprietary custody and asset management system built on HSM FIPS 140-3 Level 3 hardware with air-gapped vault environments, data diodes, MPC-based key management, and customizable multi-role approval workflows. The platform supports more than 30 blockchain networks and powers adjacent product lines: OTC execution, fiat ramping, lending and strategic markets solutions; institutional staking and Validator-as-a-Service; the Convert-to-Pay payments API; and token wrapping, including the 1:1-backed wXRP issued using LayerZero's OFT standard across Ethereum, Solana, Optimism, and HyperEVM. Trust and compliance signals include SOC 1 Type II, SOC 2 Type II, CSA STAR Level 2 certifications, GDPR compliance, and an institutional insurance framework with up to US$50M in coverage expandable to US$100M.
Hex Trust generates revenue through recurring subscription-based custody fees, transaction-based fees on OTC execution, lending, and token wrapping services, and relationship-led wealth management fees on its Aura platform. Distribution is exclusively direct-to-institution through dedicated account managers, with the Custody Continuity Desk providing engineered migration support to convert competing custodians. As of the most recent disclosures the firm reports $5 billion in assets under custody, 450+ institutional clients, and over $500 million in monthly transaction volume, supported by offices in Hong Kong, Singapore, and Dubai and partnerships including Fireblocks, Aave, Ondo, Algorand, Hedera, Flare, Dymension, and LayerZero.
Hex Trust firmographics
Firmographics- Name
- Hex Trust
- Legal name
- Hex Trust
- Website
- https://hextrust.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Hex Trust is a regulated Hong Kong-based digital asset custodian serving 450+ institutional clients across protocols, financial institutions, and high-net-worth individuals. It offers custody, staking, markets, token wrapping, payments, and wealth management through its proprietary Hex Safe platform, holding $5 billion in assets under custody.
- Ownership category
- akta.pro rank
Hex Trust industry classification
Industry- Product category
- Institutional Digital Asset Custody
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB)
- akta.pro secondary industries
- Smart Contract & Token Operations Infrastructure (Lifecycle, Corporate Actions) (FSAGAMAH), Fiat On/Off-Ramps & Payment Rails (Exchange-Operated) (FSADAAAF), On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD)
Keywords
Where Hex Trust is headquartered
LocationHeadquarters
- HQ city
- Hong Kong
- HQ country
- Hong Kong SAR China
- HQ region
- Asia
Offices3 records
Markets served
Hex Trust business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Custody Services: Hex Trust generates recurring revenue through digital asset custody fees charged to institutional clients for secure storage, management, and infrastructure services. Custody services include segregated wallet management, multi-sig arrangements, and compliance oversight.
- Markets & Trading Services: Revenue from OTC execution, lending, and strategic solutions for institutional clients. Services include OTC trading desk, fiat ramping, and lending facilities for digital asset market participants.
- Staking & Validator Services: Institutional staking services generate fees for helping protocols achieve network security while clients earn staking rewards. Validator-as-a-Service offerings provide infrastructure for proof-of-stake networks.
- Token Wrapping Services: Revenue from issuing and custodying wrapped tokens like wXRP, enabling cross-chain DeFi utility. Fees associated with token minting, redemption, and bridging services across multiple blockchain networks.
- Wealth Management (Aura): Aura platform provides digital asset wealth management for high-net-worth individuals, integrating trading, investment, and estate planning services under a white-glove relationship-led model.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Institutional custody with dedicated account management and white-glove service |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
Hex Trust product offering
Product offeringCore offering
Hex Trust provides institutional-grade regulated digital asset financial services including custody, markets (OTC execution, lending, fiat ramping), staking, token wrapping, payments infrastructure, and wealth management. Its proprietary Hex Safe platform serves as the technology backbone, delivering secure digital asset storage with HSM FIPS 140-3 Level 3 protection across more than 30 blockchain networks. The company is licensed in Hong Kong, Singapore, and Dubai and serves protocols, foundations, financial institutions, and high-net-worth individuals.
Product overview
Hex Trust is a fully licensed digital asset financial services provider offering a modular platform architecture centered on Hex Safe, its proprietary custody and management platform. The product portfolio includes core institutional custody services (with sub-products: Escrow Services, Custody Continuity Desk, Wallets, and Account Re-assignment), a dedicated wealth management platform (Aura) for High Net Worth Individuals, and Markets services (OTC Execution, Fiat Ramping, Lending, Strategic Solutions). The platform extends through token wrapping services including wXRP for cross-chain DeFi access, Convert-to-Pay payment infrastructure API, and Institutional Staking with Validator-as-a-Service. Hex Trust operates under licenses in Hong Kong, Singapore, and Dubai, serving protocols, foundations, financial institutions, and Web3 ecosystem participants with $5 billion in assets under custody and over 450 clients onboarded.
Differentiator
Problem solved
Functional benefit
Brands
- Aura: Digital asset wealth management platform providing private investors with a white-glove, relationship-led experience powered by institutional-grade infrastructure.
- Hex Safe
Products and services
- Hex Safe
Quantifiable outcome
- $5 billion in assets under custody
- +4 more outcomes
Companies that use Hex Trust
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Hex Trust technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
Feature6 records
Hex Trust partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered strategic and core.
- Doppler FinancestrategicStrategic partnership to expand institutional-grade use cases for Wrapped XRP (wXRP) and XRP-based financial infrastructure. Collaboration integrates wXRP into Doppler Finance's rewards architecture while Hex Trust provides institutional custody and infrastructure capabilities.
- Jito FoundationstrategicPartnership integrates JitoSOL, a liquid staking token on Solana, enabling Hex Trust users to earn staking rewards plus MEV rewards while maintaining liquid SOL for DeFi activities. Users can utilize JitoSOL as collateral for borrowing and lending through Hex Trust's markets desk.
- LayerZerostrategicPartnership for launching wXRP using LayerZero's Omnichain Fungible Token (OFT) standard. LayerZero provides cross-chain bridging infrastructure enabling wXRP to operate across Ethereum, Solana, Optimism, HyperEVM, and other chains.
- FireblockscorePartnership enables Hex Trust's role as a regulated custodian within the Fireblocks Custody Network, targeting APAC and Middle East regions. Meets increasing demand for compliant digital asset services amid regulatory tightening in Hong Kong and other jurisdictions.
- FireblockscoreStrategic partnership positions Hex Trust as a key Qualified Custodian in the Fireblocks Custody Network, targeting APAC and Middle East regions. Collaboration leverages Hex Trust's multi-jurisdictional licensing and institutional-grade custody capabilities to meet institutional demand for compliant digital asset services.
- Byte TradingcoreAcquisition of Byte Trading to expand Hex Trust's market operations and enhance its trading platform for institutional investors. Enables comprehensive institutional markets and execution platform supporting growth strategy into 2025.
- TokenystrategicPartnership accelerates institutional RWA tokenization by integrating Hex Trust's multi-wallet custody architecture into Tokeny's onchain operating system for tokenized securities. Addresses growing institutional demand for tokenization solutions combining custody security with compliance through ERC-3643 permissioned token standard.
- Flare FoundationstrategicStrategic solutions partnership providing FTSO data feeds and infrastructure support for the Flare network. Hex Trust provides delegation support and institutional-grade infrastructure for Flare's decentralized oracle and data availability platform.
- Ondo FinancestrategicPartnership to expand custody solutions for Ondo Finance's tokenized real-world assets. Ondo's RWA products including USDY and OUSG are supported through Hex Trust's institutional custody infrastructure.
- AavestrategicPartnership enabling institutional access to Aave's DeFi protocol suite through Hex Trust's secure and compliant custody infrastructure. Brings institutions to DeFi in a regulatory-compliant manner.
- Algorand FoundationstrategicEcosystem partnership providing institutional-grade custody for Algorand blockchain. Enables secure, flexible platform for transformational digital transactions accelerating institutional adoption of Algorand.
- Hedera HashgraphstrategicPartnership for institutional blockchain solutions on Hedera network. Hex Trust provides enterprise-grade digital asset custody with highest security standards and rigorous compliance approach.
- DymensionstrategicPartnership supporting Dymension's mainnet launch with institutional custody and staking infrastructure. Hex Trust provides custody and staking support during token generation events and ecosystem support.
- IBMstrategicPartnership to deliver leading custody and settlement solutions leveraging IBM's enterprise infrastructure and technology capabilities.
- Union Bank of the PhilippinesstrategicPartnership enabling Union Bank of the Philippines to enter the digital asset ecosystem using Hex Trust's regulated infrastructure and custody services.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
Hex Trust competitors and assessment
Company assessmentDirect peers
- Anchorage Digital: Anchorage is a federally chartered crypto bank providing institutional digital asset custody, staking, and trading. It is the most direct peer to Hex Trust, competing for the same institutional client base with regulated custody infrastructure.
- BitGo: BitGo is a leading institutional digital asset custodian and qualified custodian offering custody, staking, lending, and trading services. It is a direct competitor in the institutional custody segment and also custodies Ondo's RWA products alongside Hex Trust.
- Fireblocks: Fireblocks is an institutional digital asset custody and operations platform. It is both a direct competitor and a channel partner to Hex Trust via the Fireblocks Custody Network, targeting the same institutional clients.
- Cobo: Cobo is an APAC-focused institutional digital asset custodian and wallet infrastructure provider offering custody, staking, and DeFi access. It is a direct peer with comparable geographic focus and product breadth.
- Zodia Custody: Zodia Custody is an institutional crypto custodian backed by Standard Chartered and Northern Trust. It is a direct peer targeting banks and financial institutions with regulated custody solutions.
- Komainu: Komainu is a joint venture between Nomura, Ledger, and CoinShares providing institutional digital asset custody. It is a direct peer serving financial institutions with regulated custody services.
- FalconX: FalconX is an institutional digital asset trading and prime brokerage platform offering execution, custody, and credit. It is a direct peer competing for institutional crypto mandates, including trading that overlaps with Hex Trust's Byte Trading-acquired markets desk.
- Bitcoin Suisse: Bitcoin Suisse is a Swiss-regulated institutional crypto financial services provider offering custody, trading, staking, and lending. It is a direct peer in the regulated institutional crypto services space with similar multi-product strategy.
Broad incumbents
- Coinbase Custody: Coinbase Custody is the institutional custody arm of Coinbase, one of the largest crypto exchanges globally. It is a broad incumbent offering institutional custody as part of a much wider trading and staking portfolio.
- Galaxy Digital: Galaxy Digital is a publicly listed institutional crypto financial services firm offering trading, asset management, custody, and mining. It is a broad incumbent whose institutional prime brokerage overlaps with Hex Trust's institutional client base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Hex Trust social profiles
Digital presenceHex Trust compliance and trust
Trust signalCompliance9 records
Hex Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hex Trust leadership team
Management profileNumber of profiles
Profiles9 records
Hex Trust subsidiaries and ownership
Company hierarchySubsidiaries1 record
Hex Trust funding detail
Funding detailFunding overview
Funding rounds7 records
Investors39 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hex Trust M&A and investment
M&A and investmentM&A1 record
Investments7 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hex Trust
What does Hex Trust do?
Hex Trust provides institutional-grade regulated digital asset financial services including custody, markets (OTC execution, lending, fiat ramping), staking, token wrapping, payments infrastructure, and wealth management. Its proprietary Hex Safe platform serves as the technology backbone, delivering secure digital asset storage with HSM FIPS 140-3 Level 3 protection across more than 30 blockchain networks. The company is licensed in Hong Kong, Singapore, and Dubai and serves protocols, foundations, financial institutions, and high-net-worth individuals.
Is Hex Trust a public or private company?
Hex Trust is a private company. It is classified as venture growth investor backed and is currently operating.
When was Hex Trust founded?
Hex Trust was founded in 2018. It employs 101 to 250 people.
Where is Hex Trust based?
Hex Trust is headquartered in Hong Kong, Hong Kong SAR China, in the Asia region.
How does Hex Trust make money?
Five revenue lines are on record. Custody Services are the primary driver. The others are markets & Trading Services, staking & Validator Services, token Wrapping Services and wealth Management (Aura).
Who are Hex Trust's main competitors?
Direct peers on record are Anchorage Digital, BitGo, Fireblocks, Cobo, Zodia Custody, Komainu, FalconX and Bitcoin Suisse. Broad incumbents are Coinbase Custody and Galaxy Digital.
Does Hex Trust have an API?
Yes. Hex Trust offers the Convert-to-Pay API, an instant payment API built for institutions. It enables digital asset acceptance and compliant fiat settlement for regulated payment providers.
What industry is Hex Trust in?
Hex Trust's product category is Institutional Digital Asset Custody. Its primary akta.pro industry code is FSAGAMAB, Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra), with a secondary code of FSAGAMAH, Smart Contract & Token Operations Infrastructure (Lifecycle, Corporate Actions). Its NAICS code is 522320 and its SIC code is 6200.