<p><span style="font-weight: 400;">Singapore-based cryptocurrency platform AscendEX, formerly known as BitMax, has raised $50 million in a Series B funding round.</span></p> <p><span style="font-weight: 400;">San Francisco-based Polychain Capital and Nevada-based private equity firm Hack VC led the round. Additional firms participating include Jump Capital, Alameda Research, Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research, and Palm Drive Capital. Imperii Partners advised AscendEX during the raise process. </span></p> <p><span style="font-weight: 400;">AscendEX plans to use the funds to support international growth. The company was founded in July 2018 as BitMax and </span><a href="https://www.accesswire.com/636776/BitMax-Relaunches-as-AscendEX"><span style="font-weight: 400;">relaunched</span></a><span style="font-weight: 400;"> with its current name in March. </span></p> <p><span style="font-weight: 400;">"In an extremely competitive crypto exchange landscape, AscendEX has impressively emerged as the leading venue for innovative crypto projects in DeFi, GameFi and crypto infrastructure," Jump Capital partner Saurabh Sharma said in a press release. “AscendEX remains ahead of the curve by constantly innovating and offering unmet needs such as broad staking access and DeFi yield farming for retail investors."</span></p>