Zipmex, which aspires to build the Asia Pacific region’s largest digital assets exchange, raises $6 million led by Jump Capital
Zipmex, a digital resources exchange headquartered in Singapore, announced today it has raised$ 6 million in funding led by Jump Capital. The startup, which plans to become a digital resources bank, says the round exceeded its initial target of$ 4 million. Along with earlier fund, it raises the total Zipmex had given rise to still further to $10.9 million.
The exchange is regulated in Singapore, Australia and Indonesia, and licensed in Thailand. It concentrates on investors brand-new to cryptocurrency with school facets, as well as high net-worth someones, and says it has transacted over $600 million in gross transaction work since launching at the end of 2019.
The funding will be used on hiring and to add more product gives. In addition to being able to its cryptocurrency exchange, Zipmex’s services also include ZipUp, its interest-bearing chronicles, and its own ERC-2 0 token ZMT.
Zipmex’s goal is to become the largest digital exchange in the Asia Pacific, where interest in cryptocurrency investing and blockchain technology is increasing rapidly. For example, DBG Group Holdings, Southeast Asia’s largest lender, recently launched a crypto exchange, though it is currently open merely to professional investors.
But Zipmex is also up against a listing of opponents, including regional exchanges like BitKub in Thailand and Swyftx in Australia, as well as participates like Luno, Coinbase and Binance which are targeting growth in the Asia Pacific region.
Zipmex chief executive officer Marcus Lim said the company’s ambition to become a digital assets bank organizes it apart from other exchanges.” We currently furnish customers to invest and give interest on their digital resources ,” he told TechCrunch.” In the future, we are planning to roll out remittances and lending and the investment into securitized signs .”
Other cryptocurrency startups that Jump Capital, an American venture capital firm, has invested in include BitGo and TradingView. Its parent firm, trading conglomerate Jump Trading, powers Robinhood’s crypto trades.
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