Crypto Trading Platform AscendEX Raises $50M From Backers Including Alameda Research
The platform has reached over $200 million in average daily trading volume.
Nov 3, 2021 at 5:24 p.m. UTC:format(webp)/downloads.coindesk.com/arc/failsafe/placeholders/16x9.png)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Singapore-based cryptocurrency trading platform AscendEX has raised $50 million in a Series B funding round led by Polychain Capital and Hack VC with participation from Alameda Research and other investors, the company said in a statement.
- Jump Capital, Uncorrelated Ventures, Eterna Capital, Acheron Trading, Palm Drive Capital and Nothing Research also participated in the round.
- AscendEX, which was launched under the name “BitMax” in July 2018, offers crypto exchange, custody and staking services.
- The company plans to use the funds to “accelerate international market entry and catalyze further product innovation, specifically focused on blockchain-based yield generating protocol,” Global Head of Business Development Shane Molidor said in the statement.
- AscendEX said it serves over one million retail and institutional clients, and has reached over $200 million in average daily trading volume.
- No valuation for the company was disclosed.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)
Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.