Coinbase invests in Zipmex
In a move that signals confidence in the future of cryptocurrency trading, Coinbase has made a strategic investment in the Zipmex exchange. This comes after earlier reports that the two companies were in talks for a possible acquisition.
With this investment, Coinbase is taking another step forward in its mission to make cryptocurrencies more accessible and understandable to mainstream users. The Zipmex exchange is one of the leading exchanges in Asia and offers a wide variety of digital assets for trading.
The partnership between Coinbase and Zipmex is a natural fit, as both companies share a commitment to making cryptocurrencies more mainstream. With this investment, Coinbase will be able to help even more people understand and invest in digital assets.
Zipmex is one of the leading digital asset exchanges in Southeast Asia. The firm supports a wide range of cryptocurrencies including Bitcoin, Ethereum, and Litecoin. In addition to supporting major fiat currencies such as the US dollar and Thai baht, Zipmex also allows for trading between digital assets.
The exchange has been growing rapidly in recent months, with reports indicating that it plans to raise $40 million in a Series B+ round. This would value the company at $400 million. Last year, Zipmex raised $41 million in a Series B round with investment from Bank of Ayudhya, one of Thailand’s largest banks.
With its strong growth trajectory and robust backing from investors, Zipmex looks poised to continue its expansion into new markets and solidify its position as a leading digital asset exchange in Southeast Asia.
This year, Zipmex plans to launch services in Cambodia, Laos, Myanmar and Vietnam. The company has also applied for a digital bank license in Singapore as it looks to offer a wider suite of financial products and services to its users.
While many other cryptocurrency exchanges have struggled to survive the past few years, Zipmex has managed to thrive. This can be attributed to a number of factors, including the company’s focus on regulatory compliance, its strong commitment to security, and its user-friendly platform.
Looking ahead, Zipmex appears well-positioned to continue its growth trajectory. With an expanding presence in Southeast Asia and plans to launch new products and services, the company is poised for continued success in the years ahead.
Following its establishment in 2018, Zipmex has rapidly grown its operations across Southeast Asia. In September 2021 and March 2022, the company raised $52 million in Series B funding from investors including B Capital, TNB Aura, V Ventures, Bank of Ayudhya’s Krungsri Finnovate, Master Ad and MindWorks Capital. The funds have been used to support Zipmex’s expansion plans in the region.
The company has built up a strong team of experienced executives and advisors. CEO Marcus Lim is a former management consultant with over 15 years of experience in the financial services industry. He is joined by co-founders Scott Tay (COO) and John Ng (CPO), who also have significant experience in finance and technology respectively. Together they form a strong leadership team with the skills and knowledge necessary to grow Zipmex into a leading regional exchange.
Digital asset exchanges are online platforms that enable users to buy and sell digital assets, such as cryptocurrencies and tokens. These exchanges act as an intermediary between buyers and sellers, allowing them to trade directly with each other.
Digital asset exchanges typically offer a wide range of features, such as advanced trading tools, order books, charting platforms, and market data. Some exchanges also offer wallet services, which allow users to store their digital assets on the exchange itself.
Choosing the right digital asset exchange is crucial for any investor or trader looking to get involved in the cryptocurrency market. With so many different exchanges available, it can be difficult to know which one is best suited for your needs.