AscendEX, a global crypto trading platform that provides users with a wide variety of product suites, today announced a strategic collaboration with Numbers Protocol, a blockchain network designed to verify the authenticity of digital content, aiming to make it transparent. The partnership enabled the integration of AscendEX’s data network into Numbers Protocol’s innovative verification framework to strengthen AscendEX’s network security, transparency, and trust in the platform’s digital content and data applications.
Launched in 2018 by Wall Street investors, AscendEX is a global cryptocurrency exchange that enables retail customers and institutional clients to easily invest, trade, and earn crypto. By offering a wide variety of spot, margin, and futures trading products, wallet services, and staking support across multiple blockchain networks, AscendEX makes it seamless for people to buy, sell, swap, and earn on their crypto assets.
AscendEX Enchaining Data Verification Using Numbers Protocol’s Technology
The partnership highlights the importance of data verification and digital provenance. As the crypto market continues to evolve swiftly, so does the sophistication of bad actors seeking to exploit vulnerabilities. Fraudsters often take advantage of weaknesses in decentralized networks, gaps in the customer onboarding process, and compliance to manipulate cryptocurrency platforms.
Crypto platforms are vulnerable to advanced fraud risks (like phishing schemes, account takeovers, pump-and-dump schemes using fake customer accounts, identity fraud using AI-produced IDs, money laundering using unverified wallets, and exploitation of KYC gaps during customer onboarding) because of the pseudonymity of blockchain technology. For crypto exchanges, Web3 applications, DeFi platforms, and wallets, data verification has become a crucial tool for preventing fraud activities and enabling compliance with regulatory standards.
Numbers Protocol has positioned itself as a solution to these problems. By running decentralized technologies and its specialized blockchain network, Numbers Protocol creates immutable records of data/digital content, making them verifiable and traceable across various chains.
Through the partnership above, AscendEX leverages Numbers Protocol’s digital provenance framework to securely track the authenticity of data on its trading platform. This cutting-edge approach enables AscendEX to prevent unauthorized movement of data across its platform and prevent data breaches, which helps ensure the legitimacy of digital content throughout its lifecycle on its network. Furthermore, through this alliance, AscendEX utilizes Numbers Protocol’s verification tools to verify data both with and without C2PA labels to ascertain the origin and authentication of crypto assets.
Unlocking The Power of Web3 with Data Traceability
The partnership with Numbers Protocol enables AscendEX to advance data traceability on its crypto trading network and unlock the full capability of DeFi on the platform. The move marks an important step toward creating a more transparent and verifiable DeFi data space. By combining AscendEX’s data trading network with Numbers Protocol’s provenance-focused authenticity framework, the two platforms are redefining the way Web3 developers and users can confidently engage with data they know to be secure and trustworthy.
