AscendEX, formerly known as BitMax, is a globally recognized cryptocurrency exchange registered in Singapore. It provides a wide range of financial products and services to both retail and institutional clients worldwide. In this article, we explore the platform’s background, core offerings, and unique features—all while maintaining a neutral and informative perspective.
The History and Vision of AscendEX
Launched in August 2018, AscendEX began its journey under the name BitMax. The platform was built with a clear vision: to establish open and fair market rules, improve liquidity and trading depth, and contribute to structural optimization within the blockchain ecosystem.
The team behind AscendEX boasts strong academic and professional credentials, with core members hailing from institutions like Yale University and the University of California. Many have also held positions at leading Wall Street investment firms, bringing a deep understanding of global finance and market dynamics.
In March 2021, BitMax underwent a significant rebranding and became AscendEX. This transformation included updates to its logo, user interface, product offerings, and service model. Later that year, in November, the platform secured $50 million in a Series B funding round led by PolyChain Capital and Hack VC—a testament to its growing influence and stability in the crypto market.
Global Presence and Expansion
AscendEX has expanded its operations across five global offices and currently serves users in over 196 countries. The platform supports multiple language interfaces and offers numerous fiat currency on-ramps, making it accessible to a broad international audience.
Its user base grew by 300% in 2020 alone, reflecting increasing trust and adoption among cryptocurrency traders and investors.
AscendEX Platform Services and Products
AscendEX offers a diverse set of cryptocurrency investment products tailored to various trading styles and experience levels. Users can engage in spot trading, leverage trading, perpetual contracts, staking, and DeFi yield farming—all within a single, integrated ecosystem.
Core Trading Products
- Spot Trading: Trade over 178 different cryptocurrencies with competitive fees and high liquidity.
- Leverage Trading: Access isolated and cross-margin modes with innovative features like auto-repayment and one-click liquidation.
- Perpetual Contracts: Engage in futures trading with flexible leverage options and risk management tools.
- Staking and Yield Products: Earn passive income through staking ASD and other supported tokens.
The ASD Utility Token
ASD is the native utility token of the AscendEX ecosystem. It offers holders several benefits, including:
- Reduced trading fees
- Access to exclusive promotional events
- Enhanced yield rates through staking programs
The total supply of ASD is capped, and the token incorporates a deflationary mechanism where used or burned tokens are converted into ASDS—a non-reversible process that reduces circulating supply over time.
VIP Tier and Fee Structure
AscendEX uses a tiered VIP system that rewards users based on their 30-day trading volume and ASD holding balance. Higher tiers come with progressively lower trading fees, creating an incentive for active and loyal users.
👉 Explore current fee rates and VIP benefits
Security and Compliance
As a Singapore-registered entity, AscendEX adheres to international regulatory standards. The platform employs industry-standard security measures, including cold storage for funds and two-factor authentication (2FA) for user accounts.
Frequently Asked Questions
What is AscendEX?
AscendEX is a global cryptocurrency exchange that offers spot, leverage, and derivatives trading along with staking and DeFi services.
Is AscendEX available in the United States?
Currently, AscendEX does not serve users based in the United States or other restricted jurisdictions. Always check local regulations before signing up.
What can I do with ASD tokens?
ASD tokens can be used to pay for trading fees, participate in exclusive events, and earn rewards through staking and yield-boosting programs.
How does AscendEX ensure fund security?
The platform uses a combination of cold storage, multi-signature wallets, and regular security audits to protect user assets.
Can I trade on AscendEX using mobile devices?
Yes, AscendEX offers a mobile app for both iOS and Android, enabling trading on the go.
Does AscendEX offer customer support?
Users can reach support via email or through official social media channels listed on the website.
Final Thoughts
AscendEX stands out for its strong institutional backing, diverse product offerings, and user-oriented features such as the ASD token economy. Whether you are new to crypto or an experienced trader, the platform offers a robust set of tools to help you achieve your investment goals.
For those interested in emerging tokens or DeFi opportunities, AscendEX often lists promising projects early, providing a chance to explore new markets ahead of other exchanges.