Hong Kong cryptocurrency custodian Hex Trust is looking to turn a profit and raise a new round of funding amid a recovery in the virtual asset market.
Hex Trust co-founder and CEO Alessio Quaglini said that as cryptocurrency prices have surged in recent months, the company expects to be profitable this year and plans a new round of financing, but it has not yet been determined as investors remain cautious Whether it will be done in the first half of this year or the second half of this year.
Hex Trust completed an $88 million Series B round of financing in March 2022, with a valuation of $300 million. Investors include Animoca Brands, Liberty City Ventures, Ripple, Terraform Labs, Morgan Creek, Primavera Venture Partners, LeadBlock Partners, and Protocol Labs and Adrian Cheng (CEO of Hong Kong real estate giant New World Development), etc. (South China Morning Post)