Zipmex Set To Resume Ethereum and Bitcoin Issuance

Zipmex set to resume Ethereum and Bitcoin Issuance according to a claim from the company. The company’s spokesman declared that after the suspension was lifted, the exchange would start accepting coin withdrawals again.

Zipmex Set To Resume ETH and BTC Issuance

The reinstatement of Ethereum and Bitcoin coins to the platform after a temporary suspension was announced on Monday by the exchanges’ spokeswoman. The Singapore-based cryptocurrency company banned the withdrawal of digital assets from its Z Wallets in July.

The wallet at the time included $53 million in cryptocurrency assets that were vulnerable to the meltdowns of Celsius and Babel Finance. The Thai Securities and Exchange Commission is reportedly gathering customer data and questioning customer service agents over the incident as a result.

Following the most recent development, over 60% of Zipmex’s clients would have access to their money. Additionally, Zipmex has operations in Thailand, Australia, and Indonesia.

According to a breakdown of the next token release, Ethereum is planned to go live on the platform on August 11 and Bitcoin on August 16.

Additionally, customers of Zipmex could withdraw additional tokens including XRP, SOL, and ADA.

Zipmex Is Looking for Investors

The cryptocurrency exchange is one of several businesses seeking investors to purchase the business. The cryptocurrency exchange disclosed that it has received a notification of interest from a prospective investor regarding the exchange’s acquisition.

The business disclosed that it had met with a number of potential purchasers and had made great progress. The tone for ongoing negotiations will be established by a non-binding agreement that one of the interested parties has offered.

The struggling cryptocurrency exchange is optimistic that a deal could materialize soon. It did not, however, disclose the prospective buyer or provide any other information on the arrangement.

Due to a decline in the value of digital assets, Zipmex ran into the same difficulties navigating the crypto market as Celsius, Babel Finance, and CoinFLEX. It was forced to stop withdrawals as a result of the failure of Celsius and Babel Finance, in which it had a sizable investment.

Nevertheless, a deal for Zipmex is imminent despite the delay. According to reports, Coinbase is also considering buying the troubled exchange. However, it decided to make a strategic investment, the details of which are yet secret.

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