AscendEX Technology S.R.L

AscendEX Technology S. R. L is a cryptocurrency trading platform that provides innovative services to enhance user engagement and investment opportunities in the digital asset space. Established in 2018 and headquartered in Singapore, AscendEX Technology S.

R. L specializes in cryptocurrency trading and financial services. The firm was founded by Ariel Ling. In November 2021, the company raised USD 50.

5 mn in Series B funding to support its growth strategies. The recent investment round included notable participation from Hack VC and Polychain Capital, among others. The company has completed a total of 1 deal since its inception, with the most recent deal being on November 22, 2021, which also marked the latest funding round. AscendEX offers a comprehensive cryptocurrency trading platform featuring services such as AscendEX Earn, liquidity mining, and staking.

Users can earn rewards through the off-chain Earn program, which distributes rewards derived from AscendEX’s principal balance sheet. The platform's liquidity mining feature allows users to deposit tokens into asset pools on decentralized exchanges, providing them with incentives in the form of trading fees and liquidity pool tokens. Additionally, the fija USDC Yield Booster strategy generates stable returns for users in USDC via liquidity provision on the decentralized perpetual exchange GMX (V2), operational on platforms like Arbitrum and Avalanche. The company primarily serves individual investors and liquidity providers interested in decentralized finance (DeFi) solutions.

In the most recent financial year of 2021, AscendEX reported a revenue of USD 73. 91 mn and an EBITDA of USD 42. 03 mn. The company generates revenue primarily from transaction fees associated with trades executed on its platform, as well as through various rewards offered in its earning programs, ensuring a steady income stream from user engagements.

Following the Series B funding round in November 2021, which raised USD 50. 5 mn, AscendEX Technology S. R. L plans to utilize this capital to accelerate its entry into international markets and drive product innovation.

The company aims to expand its services into new geographic regions, though specific markets and timelines have not been disclosed. This strategic initiative is expected to enhance its product offerings and strengthen its position in the cryptocurrency trading sector.