AscendEX completes $50 million Series B round led by Polychain and Hack VC
November 4, 2021, 5:02PM EDT
1 min read
Singapore-based cryptocurrency platform AscendEX, formerly known as BitMax, has raised $50 million in a Series B funding round.
San Francisco-based Polychain Capital and Nevada-based private equity firm Hack VC led the round. Additional firms participating include Jump Capital, Alameda Research, Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research, and Palm Drive Capital. Imperii Partners advised AscendEX during the raise process.
AscendEX plans to use the funds to support international growth. The company was founded in July 2018 as BitMax and relaunched with its current name in March.
"In an extremely competitive crypto exchange landscape, AscendEX has impressively emerged as the leading venue for innovative crypto projects in DeFi, GameFi and crypto infrastructure," Jump Capital partner Saurabh Sharma said in a press release. “AscendEX remains ahead of the curve by constantly innovating and offering unmet needs such as broad staking access and DeFi yield farming for retail investors."
A trio of political parties in Germany struck an agreement this week that will see them assemble a national governing coalition. Part of that agreement, according to the German-language text, includes a call for European countries to work together to monitor activities in the crypto sector.