AscendEX raises $50 million in Series B led by Polychain Capital and Hack VC

Singapore-based cryptocurrency exchange AscendEX has secured $50 million in a Series B round led by Polychain Capital and Hack VC.

AscendEX is proud to announce the close of our Series B fundraise! 🚀🚀

All-star investors include @polychaincap, Hack VC, @jumpcapital, @AlamedaResearch, Uncorrelated Ventures, @eternacapital, @AcheronTrading, @ResearchNothing, and @PalmDriveVC.

Read more here 👇 https://t.co/KRVQShItH7

— AscendEX (@AscendEX_Global) November 3, 2021

The round also included Alameda Research, Jump Capital, Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research and Palm Drive Capital.

The platform team plans to use the funds to accelerate international expansion and spur further product innovation.

AscendEX was founded in 2018 under the name BitMax. The company rebranded in March of this year.

Earlier in October, the Bitcoin exchange BitOasis raised $30 million. The round was led by venture firms Jump Capital and Wamda.

In the same month, the crypto trading platform CoinSwitch Kuber raised $260 million from Coinbase Ventures and Andreessen Horowitz with participation from Sequoia, Paradigm, Ribbit and Tiger Global.

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