zipmex

Without the payment, which was due on March 23, Zipmex may have to liquidate and suspend the payroll of a unit.

Its parent company Zipmex Asia is reportedly being acquired by V Ventures for US$100 million, according to Bloomberg.

The proposed rules might make things tough for smaller firms, but Bappebti’s regulations are still up in the air.

Asia’s wealthtech scene is on the rise, with Singapore taking the lead in investments and deal numbers.

The Singapore-based crypto exchange platform also denied that it had filed for bankruptcy.

Zipmex said that it is in “advanced stages” of negotiations with various parties to raise additional investment.

The Singapore-based crypto exchange said it was cooperating with Thai authorities for the probe, reported Channel News Asia.

The extension of the maintenance period for its Trade Wallet was to “prevent any technical issues,” causing withdrawals to be unavailable in the mean time.

Thailand’s Securities and Exchange Commission sought details of how much the crypto exchange held in customer assets under management, CoinDesk reported.

Zipmex attributed the move to “volatile market conditions and the resulting financial difficulties of key business partners.”