Zipmex, a cryptocurrency exchange that operates in markets like Singapore and Thailand, said on Sunday it was considering a possible offer after talks with interested parties, and that due diligence should commence.
The Asian platform was among several in the digital-assets industry encountering financial difficulties in recent weeks. On Thursday, it halted withdrawals as the fallout from a series of defaults spread further throughout the industry.
Zipmex’s chief marketing officer Proud Limpongpan declined to elaborate on the negotiations, citing a confidentiality clause.
Important Announcement
Our conversations with various interested parties have progressed significantly. One of those parties has offered terms in an MOU which includes confidentiality obligations so as to be able to commence Due Diligence. #zipmex
— ZIPMEX (@zipmex) July 24, 2022
On Friday, Zipmex tweeted it would resume allowing withdrawals but only from Trade wallet “until further notice.”
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The platform is the latest to encounter financial difficulties stemming from dealings with troubled crypto leaders Babel Finance and Celsius Network Ltd. Zipmex has US$48 million ($66.6 million) of exposure to Babel and US$5 million with Celsius, it said on its Facebook page on Thursday.
