📋 Company Profile
AscendEX is a global digital asset trading platform focused on providing cryptocurrency trading and related financial services to retail and institutional clients. Since its establishment, the platform has taken efficiency, transparency and reliability as its core values, and is committed to combining traditional financial experience with blockchain technology to provide users with a variety of trading products and services. The following is a comprehensive analysis of AscendEX, covering its basic information, business classification, market positioning, regulatory information, core business, technology infrastructure, and more.
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Thefull name and abbreviation of the basic information
Full Name: AscendEX (formerly known as BitMax.io)
Abbreviation: AscendEXSub-parent
Company
NameAscendEX is operated by BMXDM Technology Pte. Ltd. In terms of subsidiaries, according to publicly available data, there are affiliated entities such as AscendEX Technology S.R.L.
Founded:
AscendEX was founded in August 2018.
Business StatusOperational
Status: Active. The platform continues to provide services, with global users covering more than 200 countries and regions.
BackgroundAscendEX
was founded by a group of Wall Street quantitative trading veterans with extensive experience in traditional finance and blockchain technology. Originally operating under the BitMax.io brand, the platform changed its name to AscendEX on March 22, 2021 to reflect its vision of empowering users and the industry to grow rapidly. AscendEX combines the strengths of Centralized Finance (CeFi) and Decentralized Finance (DeFi) to provide a diverse range of trading and investment products.
Key Executive Background
George Cao (CEO) is a co-founder of AscendEX who has extensive experience in quantitative trading and asset management as a senior executive in the traditional finance sector.
Cao Jing (Co-Founder): He holds a B.S. from the University of Science and Technology of China and a Ph.D. from the University of Chicago, and was previously Chief Investment Officer of Delpha Capital Management LLC, CEO of HD Consulting Services Group, and Portfolio Manager of Knight Capital Group.
Ariel Ling (COO): Co-founder with deep experience in financial operations and blockchain industry, focusing on platform strategy development.
The
advisory team information is not publicly disclosed and may include experts in the fintech and blockchain fields, but the specific list and background are not available.
EntrepreneurshipAscendEX's founding philosophy stems from its founders' deep insights into blockchain technology and the potential of digital assets. The team aims to bridge the gap between traditional finance and the cryptocurrency industry through efficient trading platforms and innovative products, emphasizing the principles of transparency, reliability, and user first.
Equity
structureEquity structure: Detailed equity distribution is not disclosed. AscendEX is a privately held company that has raised funds through multiple funding rounds from Polychain Capital, Hack VC, Eterna Capital, Jump Capital, and others. In its Series B funding round on November 3, 2021, AscendEX was valued at $455 million.
Company natureCompany
nature: Private company, operating as a limited liability company.
🗂 enterprise classification
AscendEX is a fintech (FinTech) company focused on digital asset trading and blockchain technology applications. Its main business covers cryptocurrency exchanges, investment platforms and decentralized financial services, and is positioned as a global digital asset financial platform.
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Marketsegmentation AscendEX is positioned as a global cryptocurrency trading marketplace for retail investors and institutional clients. The platform covers more than 200 countries and regions, and provides multi-language support (including English, Chinese, Spanish, Japanese, etc.) for diverse user groups. Its market classification can be subdivided into:
retail market: providing individual investors with convenient trading, investment and asset management tools.
Institutional Markets: High-performance trading infrastructure and customized services for professional traders and institutions.
🛠 Services
: AscendEX The following core services are available:
spot trading: Spot trading pairs with over 200 cryptocurrencies are supported.
Margin Trading: A cross-asset collateral model that offers up to 25x leverage.
Futures Trading: Support perpetual contracts with up to 100x leverage, covering mainstream and emerging tokens.
Copy Trading: Allows users to copy the strategies of professional traders.
Staking & Yield Farming: Providing cryptocurrency staking and DeFi liquidity mining services.
Investment products: including fixed income products and volatility products.
Fiat Deposit: Support a variety of fiat currency payment methods to buy cryptocurrency.
Educational Resources: Provide market news and trading tutorials to enhance users' financial knowledge.
📜 Regulatory information
AscendEX's regulatory information is not expressly disclosed. In accordance with its terms of service, the platform adheres to international export control and economic sanctions requirements and maintains compliance with local regulators in Singapore. However, AscendEX does not explicitly mention that it is directly regulated by the Monetary Authority of Singapore (MAS) or other specific authorities.
Compliance
BackgroundAscendEX's services are subject to certain countries and regions, such as Singapore, Chinese mainland, the United States, and the five U.S. permanent resident territories (Puerto Rico, Virgin Islands, Guam, Northern Mariana Islands, and American Samoa). The platform expressly prohibits the provision of services to sanctioned countries or individuals.
💹 Trading products
: AscendEX Provide a variety of trading products to meet the needs of different investors:
spot trading pairs: more than 200 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), etc.
Margin trading: Support 3x, 5x, 10x and 25x leverage, cross-asset collateral mode.
Perpetual Contracts: Provides futures trading with up to 100x leverage, supporting mainstream and emerging tokens.
Leveraged tokens: Provide users with leveraged investment tools to amplify market volatility returns.
DeFi products: including liquidity mining and USDC yield enhancement strategies, based on decentralized exchanges (such as GMX V2).
💻 trading software
AscendEX offers the following trading software and platforms:
Web: a browser-based trading interface with real-time quotes, order management, and asset overview.
Mobile App: The AscendEX App is available for Android and iOS, providing a convenient mobile trading experience.
API interface: Support REST and WebSocket to meet the needs of high-frequency traders and institutional customers.
Transaction Engine: High-performance infrastructure that processes more than 400,000 transactions per second (TPS), ensuring low latency and high throughput.
💳 deposit and withdrawal methods
Deposit Method
cryptocurrency deposits: Support a variety of crypto direct deposits, such as BTC, ETH, USDT, etc.
Fiat currency recharge: Support credit cards, bank transfers, and other fiat currency purchases through third-party payment providers.
Withdrawal method
cryptocurrency withdrawals: Users can withdraw cryptocurrencies to an external wallet, usually at T+1 (10:00 UTC the next day).
Fiat withdrawals: Fiat withdrawals are available in some regions, depending on the payment provider.
Fees
: Deposits are free, and withdrawal fees are dynamically adjusted based on cryptocurrency network gas fees. Fiat currency transactions may involve third-party payment fees.
📞 Customer Support
for AscendEX Round-the-clock customer support:
online support: Live chat and ticketing system are available through the help center on the official website.
Multi-language service: Support English, Chinese, Spanish, Japanese, Vietnamese and other languages.
Dedicated Institutional Support: Provide 24/7 dedicated technical and service representatives to institutional clients.
Community Engagement: Engage with users through Twitter (@AscendEX_Global) and other social media to make announcements and events.
🚀 Core business and services
AscendEX's core business revolves around digital asset trading and financial services:
trading services: providing spot, margin, and futures trading across more than 200 blockchain projects.
Investment & Income: Help users increase their assets through staking, liquidity mining, and fixed income products.
Institutional Services: High-performance infrastructure, customized APIs, and liquidity support for professional traders and institutions.
DeFi integration: Combined with decentralized finance protocols, it provides liquidity mining and yield enhancement strategies.
Education & Empowerment: Help users improve their trading skills with market news, tutorials, and copy trading features.
🖥 Technical infrastructure
AscendEX's technical infrastructure is one of its core competencies:
a high-performance trading engine that supports 400,000 transactions per second, with a low-latency connection, suitable for high-frequency trading.
Multi-protocol support: REST and WebSocket APIs are provided to meet different transaction needs.
Security architecture: Adopt a multi-layered defense mechanism, including hot and cold wallet separation, multi-signature, and real-time monitoring.
Global Fulfillment Centers: With fulfillment centers in Asia and the Americas, 24/7 service availability is ensured.
Scalability: The platform supports the rapid launch of new tokens and trading pairs to adapt to market changes.
🛡 Compliance and risk control system
Compliance measures
KYC/AML Policy: All users are required to complete identity verification and comply with AML and AML requirements.
Data Privacy: Comply with privacy policies, protect user data, and disclose only to essential service providers and regulators.
Sanctions compliance: Prohibit the provision of services to sanctioned countries or individuals and comply with international export control and economic sanctions regulations.
Risk Management
Market risk: Reduce trading risk through market control mechanisms such as order cancellation and non-market order restrictions.
Operational risk: Monitor system operation in real time to prevent system failures and cyber attacks.
Asset security: Cold wallets are used to store most of your assets, and hot wallets only retain a small amount of liquidity.
🌍 Market positioning and competitive advantage
Market
PositioningAscendEX is positioned as the world's leading digital asset financial platform, combining the strengths of CeFi and DeFi to serve retail and institutional clients. The goal is to help users increase their value through simple, secure and efficient solutions.
Competitive Advantage
Product diversity: Provide spot, margin, futures, staking and DeFi products to meet diversified needs.
High-performance infrastructure: 400,000 transactions per second, ensuring low latency and high liquidity.
Fee advantage: Offering as low as 0.02% taker fee and 0.015% maker rebate, the most competitive in the industry.
Global coverage: Supports users in more than 200 countries and regions, and the multilingual interface improves accessibility.
Wall Street Background: The founding team's quantitative trading experience brings professionalism and reliability to the platform.
🤝 Customer support and enablement
AscendEX is committed to empowering its clients through
educational resources to help users improve their skills through market analysis, trading guides, and video tutorials.
Copy Trading: Allows newbies to follow professional traders, reducing the learning curve.
Flexible products: From simple investment to highly leveraged trading, to meet the needs of users of different experience levels.
24/7 support: A multilingual customer service team is always available to respond to user needs.
Community building: Enhance user engagement through social media and offline events.
🌱 Social Responsibility & ESG
EnvironmentalAscendEX
does not disclose specific environmental initiatives, but the blockchain industry's energy consumption issues may have an impact on its ESG performance. Platforms may indirectly contribute to environmental protection by supporting low-energy blockchain projects.
SocialAscendEX promotes financial inclusion for users around the world by providing financial education resources and financial inclusion tools, such as low-barrier investment products.
The Governance
platform demonstrates good corporate governance practices through transparent trading rules, compliance policies, and data privacy protection.
🤲 Partners with
AscendEX It has established strategic cooperation with several blockchain projects and financial institutions:
blockchain projects: support the trading and staking of more than 200 tokens, and cooperate with emerging projects (such as BDTCOIN, Renta Network) to launch new products.
Investment institutions: Obtain the support of well-known venture capital such as Polychain Capital and Hack VC to enhance capital strength.
DeFi protocols: Partnering with decentralized exchanges such as GMX to provide liquidity mining and yield enhancement products.
Payment providers: Cooperate with third-party payment companies to support fiat deposits and withdrawals.
💰 financial health
Funding
SituationAscendEX has raised $50 million in aggregate, with the latest round being a Series B funding round on November 3, 2021, valuing $455 million. Investors include Polychain Capital, Hack VC, and others.
Revenue Performance
: Annual revenue in 2020 was approximately $19.4 million (as of December 31, 2020). With a daily trading volume of over $200 million, it shows a steady stream of income.
Financial StabilityAs
a private company, AscendEX does not disclose detailed financial statements, but its continued funding and trading volume growth indicate a healthy financial position.
🚀 Future roadmap
forAscendEX Future development plans include:
product expansion: the introduction of more DeFi products, such as new liquidity mining and yield strategies.
Technology upgrades: Improve the performance of the trading engine and increase the transaction processing capacity per second.
Market Expansion: Further expansion into emerging markets with multilingual support and localization services.
Enhanced Compliance: Strengthen collaboration with global regulators to improve compliance and access to more regulated markets.
Ecosystem construction: Build a broader digital asset ecosystem through cooperation with blockchain projects and fintech companies.
