AscendEX is a technology company.
AscendEX has raised $50.0M across 1 funding round.
AscendEX has raised $50.0M in total across 1 funding round.
AscendEX has raised $50.0M in total across 1 funding round.
AscendEX's investors include Archetype, Electric Capital, Hack VC, Paradigm, Polychain Capital, Scalar Capital, The Hit Forge, Andrew Keys.
AscendEX is a global cryptocurrency trading platform launched in 2018, offering spot, margin, futures trading, and earning products for over 250 digital assets across more than 320 trading pairs.[1][2][4] It serves retail and institutional clients in over 200 regions (with restrictions in places like the US, mainland China, and Singapore), emphasizing efficiency, resilience, transparency, security, and tools like cross-asset collateral margin trading.[1][2][3] Built by Wall Street quantitative trading veterans, it combines centralized exchange strengths with DeFi integrations, prioritizing defense-in-depth security, KYC/AML compliance, and 24/7 support to maximize user returns.[1][2]
AscendEX was founded in 2018 by a group of Wall Street quantitative trading professionals with over a century of combined experience, initially launching in August as BitMax before rebranding to AscendEX in March 2021 to position itself as a leading crypto financial platform.[1][2][5] Headquartered in Singapore and operated by AscendEX Technology S.R.L. in Romania, it emerged from expertise in high-frequency trading to build a full-stack platform blending centralized and DeFi elements.[1][3] A pivotal setback occurred in December 2021 when hackers stole $77.7 million from hot wallets across Ethereum, Binance Smart Chain, and Polygon, highlighting ongoing security challenges in crypto exchanges.[1]
AscendEX rides the cryptocurrency trading boom, capitalizing on the expansion of DeFi, blockchain projects (200+ supported), and institutional adoption of digital assets like Bitcoin and Ethereum.[1][2][4] Its timing aligns with post-2018 crypto maturation, where Wall Street expertise meets decentralized finance, enabling margin and futures trading amid volatile markets and rising APY-earning demand.[1][2] Market forces like global crypto accessibility (despite restrictions) and the need for secure, high-leverage platforms favor its growth, while it influences the ecosystem by listing niche tokens and bridging retail-institutional trading.[1][4] However, incidents like the 2021 hack underscore broader industry risks around wallet security and regulatory scrutiny.[1]
AscendEX is poised to expand its DeFi integrations and asset listings amid maturing crypto regulations and institutional inflows, potentially enhancing its 320+ trading pairs and earning yields.[1][2][4] Trends like AI-driven trading, cross-chain interoperability, and higher capital efficiency will shape its path, though it must bolster hot wallet defenses to rebuild trust post-2021 breach.[1] Its influence may grow by deepening institutional tools, solidifying its role as a resilient bridge in the digital asset economy—ascending beyond basic exchanges.[2]
AscendEX has raised $50.0M across 1 funding round. Most recently, it raised $50.0M Series B in November 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2021 | $50.0M Series B | Archetype, Electric Capital, Hack VC, Paradigm, Polychain Capital, Scalar Capital, The Hit Forge, Andrew Keys |