What AscendEX does

AscendEX is a Singapore-headquartered cryptocurrency exchange platform founded in 2018, previously operating as BitMax, that provides a full-stack suite of crypto trading and investment services to over one million registered retail and institutional users globally. The platform was founded by Wall Street veterans including CEO George Cao and is backed by Polychain Capital, Hack VC, and Jump Capital following a $50 million Series B in November 2021.

The platform's core products include spot trading across 1,700+ cryptocurrencies, margin trading, perpetual futures with up to 200x leverage on 300+ pairs, copy trading, an on-chain DEX for USDC-settled perpetuals, leveraged tokens offering 3x-5x exposure, an IEO launchpad, P2P trading, an OTC desk, and an Earn product aggregating staking, DeFi yield farming, liquidity mining, and lending. Technical infrastructure combines a hybrid hot/cold wallet architecture with defense-in-depth security controls, KYC/AML compliance, and a Python-based institutional API. Native platform token ASD provides fee discounts, staking rewards, and access to multiplier card benefits.

AscendEX generates revenue primarily through trading fees on spot, margin, and futures transactions, plus spreads and fees from staking and DeFi yield services across 100+ assets, IEO listing fees, leveraged token issuance, and a referral program offering up to 70% commission. Distribution is product-led and self-serve through web and mobile apps with global reach via regional Telegram communities in 12+ languages. The platform suffered a $77.5 million security breach attributed to North Korea's Lazarus Group in December 2021, received a Financial Intelligence Unit India notice in 2025 for operating without registration, and has been flagged by blockchain investigator ZachXBT in June 2026 for alleged withdrawal delays and reserve shortfalls.

Name

AscendEX

Legal name

AscendEX

Website

https://ascendex.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Singapore-headquartered cryptocurrency exchange founded in 2018 offering spot trading, perpetual futures up to 200x leverage, copy trading, staking, and an IEO launchpad to over one million registered retail and institutional traders globally.

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (523210)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Crypto Derivatives Exchanges (Futures, Options & Perpetuals) (FSADAAAD)

akta.pro secondary industries

Perpetuals & Derivatives DEXs (FSADABAE), Fiat On/Off-Ramps & Payment Rails (Exchange-Operated) (FSADAAAF), Margin Trading & Collateralized Borrowing (Exchange-Operated) (FSADAAAL), Tokenized Debt, Notes & On-Chain Credit Instruments (FSADAFAM)

Keywords

• Cryptocurrency exchange
• Spot trading
• Perpetual futures
• Crypto staking
• DeFi yield farming

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Trading Fees: Transaction fees from spot, margin, and futures trading. Platform claims to offer fee-free trading for certain products like Invest.
2. Staking and Yield Services: Earns fees or spreads from delegating user assets to Proof-of-Stake networks, providing yield to users while generating platform revenue. Supports staking for 100+ crypto assets.
3. Promotional Programs: AscendEX sponsors off-chain Earn programs distributing rewards funded by the platform and blockchain projects, promoting user engagement and asset retention.
4. Initial Exchange Offerings (IEOs): Launchpad for new token listings with average all-time ROI of 4,714%, generating listing fees and trading volume from new token launches.
5. Leveraged Tokens: Trading of leveraged tokens allowing users to get exposure to 3x or 5x returns on underlying assets, generating trading fees.
6. Referral Program: Users can earn up to 70% referral commission on qualified trades made by referred users.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

AscendEX operates a centralized cryptocurrency exchange and full-stack digital asset platform providing spot trading, margin trading (up to 3x), perpetual futures (up to 200x leverage on 300+ pairs), copy trading, P2P trading, leveraged tokens (3x/5x), staking/Earn products supporting 100+ assets, fiat on-ramp via card payments, a USDC-settled on-chain DEX for perpetuals, and a launchpad for Initial Exchange Offerings.

Product overview

AscendEX is a full-stack cryptocurrency financial platform offering a comprehensive suite of trading and investment products. The platform operates as a unified ecosystem comprising core trading products (Spot Trading, Margin Trading, Perpetual Futures with up to 200x leverage, Copy Trading, P2P Trading, and Buy with Card), yield-generating products (AscendEX Earn with staking/DeFi yield farming), investment platforms (AscendEX Invest and Launchpad for IEOs), decentralized trading (AscendEX DEX for on-chain perpetuals), and leverage products (Leveraged Tokens at 3X-5X). Additional modules include Rewards Center, Futures Bonus, ASD Investment Multiplier Card, Airdrop Multiplier Card, VIP Program, Referral Program, OTC Escrow, Token Listing Application, Trading Contests, and Auctions. The platform also offers institutional-grade services through its VIP program and API access for algorithmic trading.

Differentiator

Problem solved

Functional benefit

Products and services

• Spot Trading Centralized exchange spot trading for hundreds of cryptocurrencies across multiple trading pairs, enabling users to buy and sell crypto assets at real-time market prices.
• Margin Trading Leveraged spot trading allowing users to borrow funds to amplify their trading positions with up to 3x leverage on selected pairs.
• Perpetual Futures Crypto futures trading with up to 200x leverage on over 300 trading pairs, featuring perpetual contracts settled in USDT with use of yield-bearing assets as collateral.
• Copy Trading Social trading feature allowing users to automatically copy the positions and strategies of top-performing traders in real time.
• AscendEX Earn Yield-generating product suite including staking, DeFi yield farming, liquidity mining, lending, and borrowing. Users can stake assets and earn rewards through Proof-of-Stake delegation and platform-funded promotional programs, with industry-leading 50% average APY.
• P2P Trading Peer-to-peer crypto trading platform with ultra-low fees, supporting multiple fiat currencies and various payment methods for deposits and withdrawals.
• Buy with Card Fiat on-ramp service enabling users to purchase cryptocurrency using credit/debit cards, Apple Pay, or Google Pay with 0% fee rate.
• Leveraged Tokens Tokenized leverage products offering 3x and 5x exposure to underlying crypto assets, allowing traders to gain leveraged positions without managing collateral or liquidation risks directly.
• AscendEX DEX On-chain decentralized perpetuals platform settled in USDC, providing access to decentralized trading while maintaining connection to the centralized AscendEX ecosystem.
• AscendEX Invest Simple investment product for buying and selling cryptocurrencies including Bitcoin, Ethereum, and Dogecoin with 0% commission and fee-free trading, featuring hot and rising tokens, popular assets, and newly listed cryptocurrencies.
• Launchpad (IEO) Initial Exchange Offering platform enabling early-stage blockchain project token sales to platform users, with a historical average all-time ROI of 4,714%.
• OTC Escrow Over-the-counter trading desk for large-volume trades with personalized service and dedicated support.

Quantifiable outcome

• 4,714% average all-time ROI for IEOs
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered minor.

• Bomb CryptominorStrategic or Co-development Partner · 1 March 2026AscendEX partnered with Bomb Crypto, a blockchain-based play-to-earn gaming platform, to combine interactive gaming with blockchain technology. The collaboration enables players to earn cryptocurrency through gameplay while expanding the reach of blockchain-based gaming networks.
• FireverseminorStrategic or Co-development Partner · 1 January 2026Fireverse, a Web3 AI-powered music platform, partnered with AscendEX to integrate DeFi capabilities into its platform. Fireverse's native FIR token was listed on AscendEX, providing Fireverse access to AscendEX's global user base for trading digital assets, generating yield, and managing liquidity.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bitget: CEX with a derivatives-heavy mix and a category-leading copy-trading product. Directly comparable to AscendEX's derivatives and copy-trading emphasis, and a key competitor in social-trading user acquisition.
• Bybit: A leading global CEX with a strong derivatives franchise (perpetuals and futures) and a derivatives-first product mix. Directly comparable to AscendEX's perpetual futures offering with up to 200x leverage and copy-trading features.
• OKX: Global CEX offering spot, margin, perpetual futures, copy trading, and a separate on-chain DEX (OKX Wallet / OKX DEX). Closely comparable full-stack CEX-plus-DEX architecture similar to AscendEX + AscendEX DEX.
• MEXC Global: Mid-tier global CEX with a derivatives-heavy product mix, broad altcoin listings, and yield/launchpad products. Closely comparable to AscendEX in tier, product breadth, and emerging-markets distribution.
• HTX (Huobi): Asia-rooted global CEX with spot, futures, margin, staking, and a separate on-chain (TRON-aligned) ecosystem. Comparable to AscendEX in Asia-led positioning and full-stack CEX product offering.
• Gate.io: Long-running global CEX with deep altcoin listings, spot/margin/futures, staking, and launchpad. Comparable to AscendEX in breadth of listed assets, leveraged products, and global retail focus.
• KuCoin: Global CEX focused on altcoin breadth, spot/margin/futures trading, staking, and a launchpad. Highly comparable to AscendEX in product breadth, mid-tier positioning, and global/Asia-led distribution.

Broad incumbents

• Binance: The largest global CEX with spot, futures, margin, launchpad, staking, P2P, and on-chain products. Overlaps with AscendEX across nearly every product line and customer segment; included as a broad incumbent benchmark for scale.
• Crypto.com: Large global crypto platform spanning exchange, app, debit card, and on-chain products. Overlaps AscendEX's CEX, P2P, and yield products but at a broader retail/incumbent scale.
• Kraken: Established regulated CEX with spot, margin, futures, and staking. Comparable exchange functionality, though more compliance-anchored and Western-regulated than AscendEX.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/AscendEX_Global
• YouTubeyoutube.com/c/AscendExOfficial
• Facebookfacebook.com/AscendexOfficial
• Instagraminstagram.com/_ascendex

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors13 records

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

M&A

Investments15 records

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

Frequently asked questions about AscendEX