Crypto exchange AscendEX closes $50M Series B led by Polychain Capital and Hack VC » CryptoNinjas – News Couple
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Crypto exchange AscendEX closes $50M Series B led by Polychain Capital and Hack VC » CryptoNinjas


Cryptocurrency exchange AscendEX has announced the closing of a $50 million Series B raise led by Polychain Capital and Hack VC, with participation from Jump Capital and Alameda Research, as well as Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research, and Palm Drive Capital. . Imperii Partners acted as financial advisor to AscendEX to support the Series B fundraising process.

Launched under the name ‘BitMax’ in July 2018, AscendEX offers exchange, custody and storage services. Moreover, AscendEX has positioned itself as an infrastructure partner for blockchain companies in the decentralized finance (DeFi) sector and acts as a validator and gateway to yield cultivation.

AscendEX plans to use Series B funds to accelerate its entry into the international market and stimulate further product innovation, with a particular focus on blockchain-based revenue-generation protocols. Building a bridge to the DeFi ecosystem has allowed AscendEX to differentiate itself from other cryptocurrency exchanges and made the platform a popular destination for innovative DeFi projects to conduct Initial Exchange Offers (IEOs).
-Shane Molidor, Global Head of Business Development at AscendEX



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