Zipmex sends a request for a meeting with the Thai regulator about the company restructuring plan

Cryptocurrency exchange Zipmex has requested meetings with the Securities Exchange Commission of Thailand (SEC) and other regulators to discuss the company's restructuring plan.

Zipmex submits request for a meeting with the Thai regulator about the company restructuring plan meetings with the Thai SEC with the participation of potential investors of the company to present the restructuring plan after falling into financial difficulties due to the impact of the crisis liquidity in the last two months. The requested discussions with the SEC come a month after the regulator issued an “ultimatum” to Zipmex because the exchange was involved in a $53 million loan to Babel Finance and Celsius. taken a move to ban customers from withdrawing money.

After encountering many challenges mentioned above, Zipmex was offered to rescue from an unnamed party as well as receive an "amnesty" for three months' debt repayment obligation from the Supreme Court. Singapore. However, given the SEC's interest in Zipmex, the upcoming discussions will provide important information on how the company may proceed with future repayments. Besides, Zipmex announced that they will soon clarify more on the matter around mid-September 2022.

In addition, Zipmex also announced that the wallet transfer for the exchange's native token ZMT between Z Wallets and Trade Wallets has been reset this week, marking further progress as the company is working on it. force to return to full operation. However, the functionality is currently only available on the website and not via the Zipmex app.




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Aug 26, 2022

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