Important announcement: updates on Zipmex’s fundraising progress

August 26, 2022

Bangkok, Thailand – 25 August 2022 – Zipmex is in advanced stages of negotiations to finalise the commercial terms of our investment round with potential investors. We have requested a meeting with Thailand’s Securities Exchange Commission to introduce our potential investors and present our recovery plan if the investment is agreed upon and consummated.

Dr. Akalarp Yimwilai, CEO and Co-Founder of Zipmex Thailand said “Zipmex has consistently been trying to restore investor confidence. By resuming the Z Wallet service and doing everything possible to resolve the aforementioned problems, we intend to continue to move forward to resume full services to serve our customers effectively and fairly. We are determined to rebuild the greater crypto ecosystem so that it emerges stronger than ever, including the Zipmex Token (ZMT).”

For the update on current progress, from all the three MOUs signed by three investors within the last month, we are in advanced stages of negotiations to finalise the commercial terms  with two of these investors before an agreement is concluded. The investors we have been in discussions with fully understand our potential and share our vision and mission of developing the digital economy in Thailand and Southeast Asia.

Zipmex is considering offers from local and global investors, so that Zipmex’s operations can fully resume and be improved upon, including new projects, as well as our capabilities for the expanded use of ZMT and the Zipmex ecosystem across the region. Zipmex will officially announce as soon as any investment transaction is finalised and agreed upon.

Additionally, the Zipmex Group has appointed KordaMentha Pte. Ltd., a global firm with expertise in restructuring and financial consulting as its Financial Advisor in order to appoint a Scheme Manager in the business restructuring process. KordaMentha Pte. Ltd. together with Zipmex will provide further updates regarding the restructuring process as appropriate. This will include details about online Townhall meetings which will be held within 15 September 2022.

Thank you for your continued support.

For further enquiries, reach out to Customer Support on Live Chat – we’re ready to help 24/7.

Email: [email protected] 

Facebook: Zipmex Asia

*Investing in digital assets carries a high level of risk, including the risk of losing all of the invested amount. Investors should refer to the offering information prior to investing as well as invest appropriately with acceptable risk levels. For more information visit https://zipmex.com/ 

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RISK WARNING ON DIGITAL PAYMENT TOKEN SERVICES

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of Zipmex.

Before you pay Zipmex any money or DPT, you must be aware of the following.

  1. Zipmex is not currently licensed by MAS to provide DPT services. This means that you will not be able to recover all the money or DPTs you paid to Zipmex if Zipmex’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Zipmex.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  4. You should be aware that Zipmex may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
  5. DPT held in your Hosted Wallet is not subject to the Singapore Deposit Insurance Scheme (“SDIC”) or any similar insurance or guaranty scheme of any other jurisdiction. In addition, funds stored in your Fiat Wallet do not benefit from the SDIC or any similar insurance or guaranty scheme of any other jurisdiction.

ZipUp+ products have not been approved by the Monetary Authority of Singapore (“MAS”) under the Payment Services Act 2019 and MAS has not reviewed or approved any features of these product offerings. Please review this link for the full terms and conditions and risk disclosure.

ZipUp+ products are not defined as “deposits” under Section 4B of the Banking Act and hence there is no insurance by the Singapore Deposit Insurance Corporation Limited in the event if Zipmex Pte. Ltd. fails.