Hex Trust, a crypto custodian based in Hong Kong, announced the acquisition of Byte Trading to strengthen its position in the institutional market. This integration combines Byte Trading’s low-latency trading technology with Hex Trust’s custody services, aiming to offer enhanced financial solutions for institutional investors.

The acquisition follows a funding round led by Morgan Creek Digital, indicating strong confidence in Hex Trust’s growth strategy. The move aligns with Hex Trust’s recent launch of its E-Trading platform, reflecting a commitment to building a full-service financial institution catering to the needs of the digital asset sector.