AscendEX, a global cryptocurrency financial platform with a comprehensive product suite, is proud to participate in Sovryn’s latest investment round. AscendEX, alongside various industry-leading investment partners, including Pomp Investments, sees the massive potential Sovryn has to become a leader in the DeFi space.

Sovryn, the Bitcoin-based decentralized finance (DeFi) protocol, has agreed to a $9M investment proposal from a consortium of partners, including AscendEX. These investors have been vetted for their strategic contribution and led by Anthony Pompliano’s Pomp Investments. These market players will bring their reputations and deep balance sheets to bear on the corporate aspects of the Sovryn project and will, in time, look to build software to adopt and integrate with the Sovryn protocol.

Sovryn is the world’s first BTC application that will allow users access to decentralized trading and lending of Bitcoin. Sovryn has seen growing excitement and anticipation throughout 2021 as they have announced investments from Anthony Pompliano, Collider Ventures, Greenfield One, Monday Capital, Cadenza Ventures, Blockware Solutions, and more. Their native token is currently trading on the Sovryn application, with new venues announcing in the coming weeks.

The AscendEX team is dedicating itself to help Sovryn in supporting the ever-growing digital asset ecosystem. Shane Molidor, Head of Global Business Development at AscendEX, said, “As a centralized exchange, it’s important to always be thinking innovatively. We think that Decentralized Finance continues to grow and Sovryn is a unique project that brings Defi protocols to Bitcoin. At AscendEX we continue to strive towards being that nexus between the Centralized and Decentralized worlds.” 

Sovryn provides the tools to trade, lend, and leverage Bitcoin and other assets permissionless and within a system secured by the Bitcoin blockchain. Sovryn is a trading interface uniquely designed for Bitcoin-native DeFi protocols with no transaction limits and multiple assets available to trade. Sovryn is the world’s first BTC application that will allow users access to the decentralized trading and lending of Bitcoin.

“Sovryn is an ambitious project with the goal of bringing decentralized finance to the world’s premier decentralized monetary asset – Bitcoin. This is the next important step for the evolution of Bitcoin, allowing hodlers to trade, lend and borrow Bitcoin in a permissionless way, without relying on centralized intermediaries or altcoins. Sovryn continues to expand its reach by partnering with leaders in the industry, including AscendEX.” Said Elan Nahari, a chief contributor to Sovryn.

About AscendEX 

AscendEX (formerly BitMax) is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.