Hex Trust

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.

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

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

• Digital asset custody
• Institutional staking services
• Token wrapping infrastructure
• Digital asset payments
• Crypto wealth management

Headquarters

HQ city

Hong Kong

HQ country

Hong Kong SAR China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. 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.
2. 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.
3. 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.
4. 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.
5. 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

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core 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

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature6 records

Partnerships

15 partnerships are on record, tiered strategic and core.

• Doppler FinancestrategicTechnology or Integration · 4 March 2026Strategic 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 FoundationstrategicTechnology or Integration · 15 February 2026Partnership 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.
• LayerZerostrategicTechnology or Integration · 12 December 2025Partnership 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.
• FireblockscoreTechnology or Integration · 23 November 2025Partnership 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.
• FireblockscoreTechnology or Integration · 19 November 2025Strategic 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 TradingcoreStrategic or Co-development Partner · 14 February 2025Acquisition 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.
• TokenystrategicTechnology or Integration · 31 July 2024Partnership 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 or Co-development PartnerStrategic 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 FinancestrategicTechnology or IntegrationPartnership 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.
• AavestrategicTechnology or IntegrationPartnership 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 FoundationstrategicTechnology or IntegrationEcosystem partnership providing institutional-grade custody for Algorand blockchain. Enables secure, flexible platform for transformational digital transactions accelerating institutional adoption of Algorand.
• Hedera HashgraphstrategicTechnology or IntegrationPartnership for institutional blockchain solutions on Hedera network. Hex Trust provides enterprise-grade digital asset custody with highest security standards and rigorous compliance approach.
• DymensionstrategicTechnology or IntegrationPartnership 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.
• IBMstrategicTechnology or IntegrationPartnership to deliver leading custody and settlement solutions leveraging IBM's enterprise infrastructure and technology capabilities.
• Union Bank of the PhilippinesstrategicTechnology or IntegrationPartnership 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

Direct 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

• Xx.com/Hex_Trust
• YouTubeyoutube.com/channel/UCk8Rq9Q22RFE5MPNUOA_2CQ
• LinkedInlinkedin.com/company/13752894

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds7 records

Investors39 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hex Trust