A Message from Our Group CEO
July 27, 2022
Dear Zipmex customers,
I would like to sincerely thank you for your continuous support and patience as we navigate these hard times. To provide as much transparency as possible, we would like to inform you of the following:
As of 24 July 2022, an MOU has been signed. This represents significant progress and due diligence has commenced. The timeline of the investment plan will be made public once we’ve received more clarity.
Addressing Customers’ Concerns
In order to alleviate your concerns and to provide transparency in resolving the situation, I would like to clarify the following:
Issues between Zipmex and Babel Finance + Celsius: Zipmex has deposited digital assets in Babel Finance and Celsius since we launched ZipUp+. On 13 June 2022, Celsius paused withdrawals from their platform by which we immediately reached out to Celsius to request an update. However, we assessed that our balance sheet at the time could absorb the loss; we had agreed to absorb the potential loss and write off the debt.
When Babel Finance put withdrawals on hold, we had constant open communications with them and have decided to commence legal proceedings on this case.
Our Service and the Future of ZMT
Like other digital assets, the value of ZMT depends on external factors and has been impacted by the global economic downturn.
Zipmex has plans to generate an ecosystem where ZMT can be used. For example, by enabling redemption of ZMT in ZipWorld.
We are continuously striving to fulfil our roadmap commitments. We sincerely apologise for the issues with ZipUp+. As of now, we have re-enabled withdrawals in Trade Wallet across all regions. We truly appreciate your support and patience.
The Company and I are determined on retrieving your digital assets. This does not only include the lawsuit against Babel Finance and Celsius, but also the Zipmex investment plan.
CEO & Co-Founder