Key Notes

Key Notes:

Hex Trust, a crypto custody firm, has acquired Byte Trading to expand its market operations and transition into a full-service financial institution.The acquisition will see Hex Trust integrate Byte Trading’s low-latency, institutional-grade trading platform into its infrastructure, enhancing services for institutional investors.This marks Hex Trust’s first-ever acquisition since launching in 2018.

Hex Trust, a leading blockchain company focused on custody services, is expanding its market operations with the addition of Byte Trading into its business portfolio.

The acquisition was announced on February 14. While the financial details remain undisclosed, the deal unites both companies and allows Hex Trust to evolve beyond custody services into a more comprehensive financial services provider.

To achieve this goal, Hex Trust plans to integrate Byte Trading’s cryptocurrency trading platform into its existing infrastructure. The platform, optimized for low-latency, institutional-grade, and regulated infrastructure, is expected to enhance execution efficiency for Hex Trust’s clients.

📢 Hex Trust Acquires Byte Trading to Expand Markets Operations

We’re thrilled to announce that Hex Trust has acquired Byte Trading to expand and scale our markets and prime services offering to institutional investors. The acquisition marks another significant milestone on our… pic.twitter.com/XGW9dDJ6g7

— Hex Trust (@Hex_Trust) February 14, 2025

Hex Trust CEO and co-founder Alessio Quaglini believes the integration of Byte Trading’s technology is pivotal in the company’s expansion strategy.

“The acquisition of Byte Trading marks another important milestone in Hex Trust’s strategic development. Their best-in-class technology accelerates our transformation from a custody provider to a full-service financial institution, empowering us to meet the growing demands of institutional investors in the digital assets space.”

Hex Trust views this acquisition as a significant milestone, marking its first buyout since entering the crypto industry in 2018. The company also indicated that this is only the beginning, with plans to pursue further acquisitions as part of its broader growth strategy.

“With significant opportunities in the market, and following the successful strategic raise with Morgan Creek, Hex Trust is well-positioned to further expand its capabilities and drive institutional adoption of digital assets,” reads the official announcement.

Meanwhile, Hex Trust is not alone in leveraging acquisitions for expansion. With expected regulatory shifts in the United States, several major companies in the crypto space are making strategic moves to strengthen their market positions.

In January, Coinbase announced the acquisition of Spindl, an on-chain advertising and attribution platform. According to the exchange, the platform will work together with Coinbase’s layer-2 network, Base to support the growth of crypto projects built within the chain.

Also this year, blockchain payment firm MoonPay acquired Helio, a Solana-based crypto payment processor. Under the terms of the agreement, MoonPay will integrate Helio’s advanced technology and visionary team into its portfolio.

The move is expected to drive further innovation in decentralized finance, creator commerce, and trading infrastructure as MoonPay deepens its presence into the Solana blockchain.

That same month, stablecoin issuer Circle acquired Hashnote, which operates a tokenized money market fund managing multi-million-dollar assets. This acquisition aligns with Circle’s broader strategy to enhance its influence in the digital financial ecosystem.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.

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