Animoca Brands and Liberty City Ventures have led a USD88 million funding round in Hex Trust, a Hong Kong startup offering custody services for crypto assets, according to a report by Bloomberg.
The Series B round, which which also attracted participation from new investors including Ripple, Terra, Morgan Creek and Primavera Venture Partners, sees the business reach a valuation of USD300 million.
Hex Trust will use the proceeds to expand in Europe and the Middle East, and obtain additional licenses beyond its current bases in Hong Kong and Singapore.
