AscendEX, a Singapore-based cryptocurrency financial platform provider, raised $50M in Series B funding.
The round was led by Polychain Capital and Hack VC, with participation from Jump Capital, Alameda Research, Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research and Palm Drive Capital.
The company intends to use the funds to accelerate growth and expand operations.
Led by George Cao, CEO, and Shane Molidor, Global Head of Business Development, AscendEX provides a cryptocurrency financial platform servicing more than one million institutional and retail traders to obtain more value from their crypto investments. The platform features access to futures and spot trading, a wallet infrastructure, and staking support for over 200 blockchain projects, all producing yields and returns, further driving the growth of the crypto ecosystem.
The company provides dedicated auxiliary support for blockchain projects seeking to list on the platform, including consultation on the token economic design, secondary market liquidity strategies, staking support, liquidity mining, as well as global marketing support and translation services.