What Phemex does

Phemex is a privately held cryptocurrency exchange founded in 2019 and headquartered in Singapore, with its primary operating entity (PHEMEX POLAND SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ) registered in Katowice, Poland. The platform serves over 10 million global users across retail crypto traders, professional/high-volume traders, and traditional finance crossover traders, providing spot trading across 600+ crypto assets, USDT-margined and coin-margined perpetual futures with up to 100x leverage, copy trading, automated trading bots, and yield products through Phemex Earn (savings, staking, on-chain yield via SUSDE/XSTETH, and launchpool). The platform has invested heavily in proprietary infrastructure, including a 500ms execution engine, a 40,000 TPS futures matching engine upgrade, Merkle-tree Proof of Reserves maintained above 130%, and Fireblocks MPC institutional custody with over 70% of assets in cold storage. In 2026, Phemex launched its 'AI-Native Revolution' with two productized AI systems — AI Trader (deep reinforcement learning) and AI Bot (machine learning with risk-aware intelligence) — alongside major product expansions including Phemex TradFi (24/7 tokenized stocks, precious metals, crude oil via Ondo Finance integration, reaching $10B monthly volume within one month), Prediction Markets (Polymarket-powered event trading), and Pre-IPO Perpetual Futures (SpaceX, OpenAI, Anthropic synthetic exposure).

The business model is primarily transaction-fee based, charging maker/taker fees on spot and futures trades and collecting 8-hourly funding fees on perpetual contracts; secondary revenue comes from spread on Earn products and promotional/event-driven volume incentives. Go-to-market combines product-led growth (zero-fee promotions, AI-powered tools, competitions with $7M prize pools), event-driven marketing (seasonal trading leagues and football-themed championships), and community-led acquisition (60% collaborator commissions, referral rebates, active Discord/Telegram presence). Distribution is direct-to-consumer via web, iOS/Android mobile apps, and public API, supplemented by an institutional client program and VIP fee tiers for high-volume traders. The company grew organically from 6 million to over 10 million users, reports 66% user growth in late 2025, and is currently excluded from major regulated markets including the US, UK, China, Germany, and India.

Name

Phemex

Legal name

PHEMEX POLAND SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ

Website

https://phemex.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

251–500 employees

Short description

Phemex is a Singapore-headquartered cryptocurrency exchange founded in 2019 serving over 10 million global retail and professional traders with spot trading, perpetual futures, AI-powered bots, tokenized TradFi derivatives, prediction markets, and yield products on a unified USDT margin platform.

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange

NAICS

Securities and Commodity Exchanges (52321), Commodity Contracts Intermediation (52316), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG)

akta.pro secondary industries

Perpetual Futures (Perps) Venues & Protocols (FSADAGAA), Staking & Earn Programs (Exchange-Operated) (FSADAAAH), Centralized Crypto Lending Platforms (CeFi) (FSADAFAA), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

Keywords

• Cryptocurrency exchange
• Perpetual futures trading
• Spot trading platform
• Tokenized assets trading
• Crypto derivatives platform

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Marketing or Sales, Personnel, Operations, Others

Revenue model

1. Trading Fees (Maker/Taker): Phemex charges trading fees on spot and futures transactions. The platform operates a maker/taker fee structure where fees apply at both entry and close-out of futures positions. Fee discounts are available for high-volume traders and VIP members.
2. Funding Fees: Periodic funding fees for perpetual futures contracts paid every 8 hours (00:00, 08:00, 16:00 UTC). Traders holding long or short positions pay or receive funding fees based on the nominal value of positions and applicable funding rate, ensuring perpetual contract prices align with spot prices.
3. Earn Products: Interest income generated from lending, staking, and savings products offered to users. Phemex Earn products include flexible savings, staking, and on-chain yield products where platform earns spread on deployed capital.
4. Promotional Programs: Limited-time promotional programs including zero-fee trading periods (e.g., 3-month zero-fee TradFi Futures Carnival) drive user acquisition and platform volume, with short-term revenue reduction traded for long-term engagement and fee income from expanded user base.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Phemex is a cryptocurrency exchange and digital asset trading platform that provides spot trading of 600+ cryptocurrencies, USDT-margined and coin-margined perpetual futures with up to 100x leverage, tokenized traditional asset (TradFi) perpetual futures covering stocks, gold, silver, oil, and indices, prediction markets, copy trading, AI-powered automated trading bots, and yield-generating Earn products within a unified USDT-settled margin framework for over 10 million global users.

Product overview

Phemex is a multi-product cryptocurrency exchange founded in 2019 and serving over 10 million global users. The platform operates as a unified Web3 financial ecosystem providing a comprehensive portfolio of trading and wealth management products. The core trading stack spans Spot Trading (600+ crypto assets), USDT-M Perpetual Futures, and COIN-M Perpetual Futures (each supporting up to 100x leverage), complemented by Margin Trading for leveraged spot positions. AI-powered trading tools include AI Trader (Deep Reinforcement Learning autonomous execution integrated into Copy Trading) and AI Bot (machine learning-driven automation for Futures Grid, Spot Grid, and Martingale strategies with Risk-Aware Intelligence). Wealth management is anchored by Phemex Earn (encompassing Savings, Staking, On-chain Earn with SUSDE/XSTETH strategies, and Launchpool), alongside the Phemex Lending Protocol for instant crypto borrowing. The platform's TradFi expansion through Phemex TradFi delivers 24/7 perpetual futures on tokenized stocks (via Ondo Finance integration covering 14 blue-chip assets including NVIDIA, Tesla, Apple, Amazon), precious metals (gold, silver), crude oil, and global indices—all within a single USDT-settled derivatives framework. Prediction Market (powered by Polymarket) enables YES/NO event-based trading. Additional offerings include Copy Trading, Trading Bots, P2P Trading, Buy Crypto fiat onramp, On-chain Portal (for meme coins and on-chain derivatives), Rewards Hub, Referral and VIP Programs, Academy education, and Phemex API. The platform maintains 100% Proof of Reserves with Merkle tree verification and institutional-grade custody via Fireblocks, storing over 70% of user assets in cold storage.

Differentiator

Problem solved

Functional benefit

Brands

• Phemex TradFi: Traditional finance trading platform offering 24/7 futures contracts for stocks, precious metals, and commodities.
• Phemex Earn
• Phemex Prediction Market
• AI Trader
• Phemex Astral Trading League (PATL)

Products and services

• Spot Trading Direct cryptocurrency trading for instant ownership of 600+ crypto assets (BTC, ETH, SOL, etc.) on a high-speed matching engine, supporting spot pairs with industry-leading execution speed.
• USDT-M Perpetual Futures Perpetual futures contracts quoted, margined, and settled in USDT or USDC stablecoins, offering up to 100x leverage with 24/7 trading and dual price (Last Price and Mark Price) liquidation protection.
• COIN-M Perpetual Futures Perpetual futures contracts quoted, margined, and settled in cryptocurrency collateral, enabling traders to use crypto assets as margin across a range of crypto pairs.
• Margin Trading Leveraged spot trading allowing users to multiply profits by borrowing funds to open larger positions than their balance permits, with leverage multipliers on spot cryptocurrency positions.
• Copy Trading Professional copy trading platform allowing users to follow and automatically replicate trades from top-performing traders, integrated with AI Trader for autonomous strategy execution.
• AI Bot Machine learning-powered automated trading system executing quantitative strategies across Futures Grid, Spot Grid, and Martingale modes, with a Risk-Aware Intelligence engine that dynamically adjusts leverage based on real-time market data and historical volatility patterns.
• AI Trader Deep Reinforcement Learning-powered autonomous trading tool integrated into the Copy Trading platform that executes institutional-grade, emotion-free market strategies automatically.
• Phemex Earn Comprehensive suite of yield-generating products including flexible savings, fixed-term savings, staking, Launchpool, and on-chain yield strategies (SUSDE, XSTETH).
• Phemex Lending Protocol One-click instant borrowing protocol allowing users to borrow crypto assets at low rates without selling their holdings, providing liquidity against crypto collateral.
• Phemex TradFi 24/7 futures trading platform enabling access to tokenized stocks, precious metals, commodities, forex, and global indices within a single USDT-settled derivatives framework with leverage up to 100x.
• Prediction Market Prediction market powered by Polymarket enabling users to take YES/NO positions on real-world events (elections, sports, macro events) using USDT within their existing Phemex accounts without external wallets.
• Pre-IPO Perpetual Futures Synthetic derivative products enabling traders to gain exposure to valuation movements of private tech companies (SpaceX, OpenAI, Anthropic) before any potential public market debut, settled entirely in USDT.
• On-chain Portal Comprehensive on-chain trading hub offering Onchain Trade (instant on-chain meme coin trading), Onchain Derivatives (leveraged trading of high-potential on-chain coins), and On-chain Earn (blockchain staking products).
• Buy Crypto (Fiat Onramp) Fiat-to-crypto purchasing service enabling users to buy cryptocurrency using credit/debit cards (Visa, Mastercard) and fiat deposit methods including SWIFT, SEPA, and FPS with zero deposit fees.
• P2P Trading Peer-to-peer trading platform enabling users to post their own buy/sell ads or match the best available prices for cryptocurrency trading directly between users.
• Institutional Services Dedicated institutional client program providing optimized access to Phemex's full trading suite for professional traders, funds, and institutional entities, including VIP fee structures and dedicated account management.
• Phemex API Public application programming interface enabling programmatic trading access for developers, supporting order management, market data, account operations, and trading bot automation.
• Phemex Astral Trading League (PATL) Permanent zodiac-themed seasonal trading competition framework consolidating daily, weekly, and monthly crypto derivatives trading contests into a structured progression system rewarding skill development, consistency, and strategic execution.

Quantifiable outcome

• 40,000 transactions per second throughput with 90% funding settlement latency reduction
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability6 records

Feature8 records

Partnerships

Five partnerships are on record, tiered core and minor.

• PolymarketcoreTechnology or Integration · 23 April 2026Strategic integration enabling Phemex prediction markets powered by Polymarket. Users can place YES/NO positions on real-world events (elections, sports, macro events) using USDT within their existing Phemex accounts without external wallets. The integration leverages Phemex's 500ms execution engine and liquidity infrastructure, with official launch April 21, 2026 and Prediction Championship incentive program.
• Ondo FinancecoreTechnology or Integration · 20 February 2026Full integration of Ondo Finance's tokenized equity suite providing access to 14 blue-chip tokenized assets including NVIDIA, Tesla, Apple, Amazon, Nasdaq 100 ETF, and S&P 500 ETF. Positions Phemex at forefront of Real-World Asset tokenization movement, enabling traders to access traditional financial instruments on-chain with digital asset liquidity.
• FireblockscoreTechnology or IntegrationInstitutional-grade custody partnership providing military-grade wallet protection using MPC (Multi-Party Computation) technology. Fireblocks enables secure storage and management of user assets as part of Phemex's multi-layered security infrastructure.
• Université Paris Dauphine-PSLminorStrategic or Co-development PartnerAcademic partnership for DeFi and cryptocurrency research. Phemex became partner of the university to support academic research and education in decentralized finance and cryptocurrency sectors.
• Institutional Liquidity ProviderscoreTechnology or IntegrationDeepened partnerships with institutional liquidity providers for RPI (Retail Price Improvement) system upgrade. Enhancement delivers 2x industry standard BTCUSDT liquidity, 5x average market liquidity for ETHUSDT and SOLUSDT, and 3x above top exchange requirements for top 12 trading pairs.

Scale indicators15 records

Recent moves11 records

Expansion highlights6 records

Broad incumbents

• Crypto.com: Crypto.com is a regulated CEX offering spot, derivatives, tokenized equities, and earn products — overlapping with Phemex's TradFi and Earn verticals while serving a more compliance-focused, fiat-onramp-led user base.
• Binance: Binance is the dominant global CEX with substantially deeper liquidity, broader regulatory reach, and a far larger product portfolio. It overlaps with Phemex across spot, futures, copy trading, earn, and AI-bot tooling but operates at a far larger scale.

Direct peers

• OKX: OKX is a top-tier CEX with unified-margin perpetuals, advanced copy trading and bots, deep liquidity, and TradFi-style derivatives — overlapping Phemex's product stack at scale. Comparable on AI-trading tooling and unified-margin architecture.
• KuCoin: KuCoin is a mid-to-large CEX offering spot, USDT-margined perpetuals, copy trading, lending, and earn — a product mix almost identical to Phemex's. Comparable geographic restrictions and a similarly broad altcoin listing strategy make it one of the closest direct comparables.
• Bybit: Bybit is a leading centralized crypto exchange most comparable to Phemex: derivatives-first product mix, USDT-margined perpetuals, copy trading, AI-trading bots, and similar global geographic-restriction profile. It targets the same retail and pro derivatives cohort with comparable leverage and earn products.
• MEXC: MEXC is a derivatives-focused CEX known for aggressive altcoin listings, high leverage perps, and zero-fee promotional campaigns — the same playbook Phemex runs via its $7M championships and zero-fee TradFi carnivals. Highly comparable business model and target user.
• HTX (Huobi): HTX is a derivatives-heavy CEX with USDT perps, copy trading, and earn products targeting a similar global (ex-US/EU) retail audience. Comparable geographic restrictions and product breadth to Phemex.
• Bitget: Bitget is a derivatives-centric CEX with strong copy trading, futures grid bots, and tokenized-stock offerings — directly mirroring Phemex's product stack including AI Bot, AI Trader-style automation, and TradFi perps. Comparable user scale and target segment.
• Gate.io: Gate.io is a long-standing CEX with a broad altcoin spot catalog, USDT-margined futures, copy trading, and on-chain products — closely matching Phemex's 600+ spot pairs, perpetual futures, and On-chain Portal offering.

Others

• Polymarket: Polymarket is the underlying prediction-market venue Phemex integrates to power its Prediction Market product. Not a direct competitor but a core infrastructure partner and category-defining player in the event-derivatives space Phemex is now entering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Phemex_official
• YouTubeyoutube.com/channel/UCtPeiP4cn2K19fH3y7o2tOg
• Facebookfacebook.com/Phemex.official
• LinkedInlinkedin.com/company/phemex
• Instagraminstagram.com/phemexofficial/?hl=en

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phemex