Cryptoexchange Zipmex Raises $41M in Series B Funding Round
Singapore-based digital currency exchange Zipmex has published the completion of its funding round of Series B. The company has raised more than $41M by promoting ideas of 360-degree digital banking.
Investors who participated in the financial round once again confirmed the growing interest in the cryptocurrency business from large institutional organizations. The round was attended by one of the divisions of Bank of Ayudhya, which is one of the largest banks in Thailand, Mitsubishi UFJ Financial Group, Master Ad, and Plan B Media, and others. Other contributing firms include those that engaged in Zipmex's Series A funding round this winter MindWorks Capital from Hong Kong and Jump Capital.
After the result of $41 million became known, representatives of Zipmex refused to announce how much they estimated the crypto exchange. According to them, to release this information, the estimate must exceed $1 billion over the next few months.
Zipmex will spend the resulting assets on attracting new talent to the team, paying maximum attention to regulatory requirements. In parallel with this, the cryptocurrency exchange will continue to promote its products, expanding its influence in two fundamental markets Indonesia and Thailand.
The Zipmex team strives to pay attention to all innovations in the industry. So, in the 4th quarter of this year, they intend to begin their platform for NFT trading. Earlier, Zipmex declared the integration of a payment network called ZipSend inside the Visa retail chain. Among other services of the company, ZipUp also stood out, allowing customers to receive interest by storing cryptocurrencies.
During a briefing with the mass media, representatives of the firm shared their plans for the future. According to the CEO of the exchange, they intend to give customers innovative options for using their funds with the personal ecosystem ZipWorld, with Zlaunch, and the upcoming ZipNFT platform as the starting points there. The marketing director, in turn, noted that the exchange owns assets worth $360M and directs this indicator to grow up to $8 billion by the fourth quarter of 2023. At the same time, his forecasted total trading volume by the end of 2021 could touch $10 billion.