AscendEX Participate in Multi-Million Series B Funding Round 

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You are currently viewing AscendEX Participate in Multi-Million Series B Funding Round 

Cryptocurrency exchange platform, AscendEX, recently announced its participation in a new Series B funding round. Leading are California-based investment firm Polychain Capital and Hack VC, a private equity firm based in Incline Village, Nevada. Firms who joined the fundraising round included Jump Capital, Uncorrelated Ventures, Alameda Research, Eterna Capital, Nothing Research, Acheron Trading, Palm Drive Capital and serval other notable parties. Imperii Partners have will strengthen the $50m in funding by serving as the cryptocurrency trading platform’s financial advisors.

According to AscendEX’s statistics, their user base accounts for over one million retail investors and institutional investors. Collectively, AcendEXs’ userbase have utilised crypto buying and selling services, custody and staking tools since the company began its operations in July 2018 under the name BitMax. Following their rebranding, AscendEX has positioned itself as one of the top blockchain infrastructures in the Decentralised Finance (DeFi) industry. The crypto exchange also serves a yield farming platform with support for over 60 cryptoasset tokens. The arsenal of DeFi products on AscendEX places the platform in a position to be able to offer its userbase the best of centralised and decentralised services.

An announcement from the CEO of AscendEX stated that the platform is excited to have plenty of major investors participating in the funding round. In the announcement, the CEO and Co-founder, George Cao, claimed that Polychain Capital and Hack VC, have been the catalysts of the DeFi industry from their sponsorship of some of the most significant blockchain projects.

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