About Hex Trust: legal entities, licences and leadership

Legal entities and licences

Hex Trust is a group of companies. Each licence in the table belongs to one company, and that company is the one a client contracts with in its market. Compare the name on your agreement with the register entry before you sign. VARA is the Virtual Assets Regulatory Authority of Dubai, and MAS is the Monetary Authority of Singapore.

Last verified 11 October 2026 against the VARA public register and the MAS Financial Institutions Directory. Both VARA entries showed the status Active. The Hong Kong rows could not be checked: no licence number is published, and the register has no link to a single entry.

The live Dubai page prints renewal dates, not issue dates: 12 July 2027 for Hex Trust MENA FZE and 2 August 2027 for HT Markets MENA FZE. The VARA register also shows a CMA registration number for each company: CMA-VASP-0010000-0005 and CMA-VASP-0101000-0019.

Hong Kong is the least documented market. The live trust centre lists a trust company registration and a Trust or Company Service Provider (TCSP) licence, without a number and without a company name. Hex Trust Limited is named as the holder in one machine-readable file of the live site only. Until the owner confirms the holder and the number, read the status as it is: TCSP licence (AML), not an SFC-licensed platform.

From the VARA register, the MAS directory and the live regional pages, read 6 and 11 October 2026.

Other companies named in client agreements

Three more companies appear in the legal documents of the live site. No regulator is named for any of them.

• HT Markets (SVG) Limited Incorporated in Saint Vincent and the Grenadines, company number 26756. It is the counterparty of the Aura Master Trading Agreement.
• HTMI (BVI) Limited Incorporated in the British Virgin Islands. It is the counterparty of the Wrapped Token terms. Its company number is not published.
• HTEX Limited 28/F, 308 Central Des Voeux, 308 Des Voeux Road Central, Sheung Wan, Hong Kong. It converts and remits currency for corporate clients and, by its own page, takes no part in virtual asset activity. That page prints a licence marked as pending the fulfilment of its conditions and does not name the regulator.

The limits of each licence are set out under licences and regulatory disclosures by entity. For the rules behind them, read the guide to custody licensing in Dubai, Singapore and Hong Kong.

What Hex Trust does

Hex Trust holds digital assets for institutions and builds other services on the custody account. Its stated mission is “to unlock ownership in decentralized markets”. The live navigation shows six service lines: custody, wealth management, markets, wrapping, payment and staking.

Custody

Custody is the core service. Client assets sit in segregated on-chain accounts, and private keys are kept in hardware security modules. The navigation lists custody services, escrow, a continuity desk, wallets and account re-assignment under this line. Details are on the institutional crypto custody service page.

Markets and OTC execution

The markets line covers OTC execution, fiat ramping, lending and strategic solutions. In Dubai the broker-dealer is HT Markets MENA FZE (VL/23/08/003). In Singapore, OTC execution is open only to verified Accredited and Institutional Investors. Order flow and settlement are described on the crypto OTC desk page.

Staking and other services

Staking runs from the custody account, and staked assets remain in custody. Rewards are set by each network: they are variable and not guaranteed. The options and the risks are on the institutional staking page. The remaining lines are wealth management (Aura), token wrapping (including wXRP) and a payment service called Convert-to-Pay.

Leadership and board

The roles and names here are copied from the live team page as it stood on 6 October 2026. This file adds no biographies and no photographs. Confirm tenure and credentials with the company before you rely on a name.

Executive team

CEO and Co-Founder

Alessio Quaglini

CISO and Co-Founder

Rafal Czerniawski

CTO

Tommaso Natale

Chief Product Officer and Head of Custody

Giorgia Pellizzari

Head of Markets

Rohit Apte

COO and Head of Wealth Management

James Harte

Head of Legal and Compliance

Federico Fabiano

CFO and CEO of Singapore

Davy Lassagne

Chief Risk Officer

Marty Jetton

Head of Operations

Man Hay Hong

Head of Sales

Gabriele Bandi

Board of Directors

Chairman

Rajah Thiyagarajah

Director and CEO

Alessio Quaglini

Director and CISO

Rafal Czerniawski

Directors

Jehan Chu, Mark Cheng, Minh Do

Advisory Board

Chairman

Colin Brooks

Members

Henri Arslanian, Anthony Chan, Dave Chapman, Carlo Huerlimann

Security and assurance at a glance

Four dated facts and one limit. Each names the issuer, so that you can ask for the document behind it.

Report types, key storage, insurance terms and the open questions are set out under security and assurance in detail.

Governance and compliance

The live disclaimers of the two Dubai companies name the responsible individuals of each company.

Hex Trust MENA FZE

Alessio Quaglini, Peter Aswad

HT Markets MENA FZE

James Harte, Nader Najm

Both disclaimers name the same Compliance Officer and Money Laundering Officer: Peter Aswad.

As named on the live disclaimers on 6 October 2026.

The trust centre says that Chainalysis KYT and Chainalysis Reactor are built into the compliance framework for transaction screening and investigation. In Dubai, fiat client money for on-ramp and off-ramp transfers is held in a Client Money Account with Zand Bank under the VARA Client Money Rules.

Three items are not published: the auditor of the financial statements, the board committees and their members, and the ownership of the group. Ask for them in the due-diligence pack.

Offices

The live About page names two global operating hubs, Hong Kong SAR and Dubai, and two regional offices, Singapore and Ho Chi Minh City. It also lists Italy.

• Dubai, UAE: global operating hub Hex Trust MENA FZE: Office 414, Level 4, Convention Tower, Dubai World Trade Centre. HT Markets MENA FZE: Office 420 on the same floor, according to the live disclaimer; the VARA register shows Unit 425.
• Singapore: regional office 138 Market Street #24-01/02/03, CapitaGreen, Singapore 048946, as shown in the MAS directory.
• Hong Kong SAR: headquarters and global operating hub The street address is not published on the pages read for this file.
• Ho Chi Minh City, Vietnam: regional office The address is not published.

Desks, e-mail addresses and official domains are listed with the contact details and offices.

Milestones

Dated events from the live site and the regulators' registers. Two rows come from old press releases and describe the position at that date only.

Sources: live home page, trust centre and press releases, read 6 October 2026; VARA public register, opened 11 October 2026.

Independent references

Four records that Hex Trust does not control. Open them yourself: a register entry is stronger evidence than any page of this site.

• VARA public register, custody The VARA entry for Hex Trust MENA FZE shows the licence, the activity, the issue date, the client classes and the status.
• VARA public register, broker-dealer The VARA entry for HT Markets MENA FZE shows the same fields for the broker-dealer.
• MAS Financial Institutions Directory The MAS entry for Hex Technologies Pte. Ltd. shows the licence type, the two services and the address.
• CSA STAR registry The Cloud Security Alliance listing for Hex Trust shows Hex Safe, listed since 15 February 2022, and Hex KYC, listed since 15 March 2023.

This file shows no awards and no client logos.

Editorial policy, contact and complaints

Pages and guides on this site are written by the Hex Trust Research Team and reviewed by the Head of Compliance. Sourcing, review dates and the use of AI in drafting are covered by the editorial and AI-use policy. The guides themselves are collected under Hex Trust insights.

New clients write to [email protected] and existing clients to [email protected]. The home page gives the Hex Trust services at a glance.

Complaints go to the company that serves you: [email protected] or +971 4 718 3127 for the Dubai companies, and [email protected] for the Singapore company. The steps are in the complaints procedure by entity.