Following an oversubscribed Series A round in January, Zipmex has announced Series B fundraising led by Krungsri Finnovate, Bank of Ayudhya’s corporate venture capital arm.
Joining the $41 million funding round for the digital assets platform are Thai multimedia companies Plan B Media and Master Ad, as well as Hong Kong-based MindWorks Capital and U.S.-based Jump Capital, Zipmex announced in a statement on Tuesday.
«“This commitment from Krungsri Finnovate is a huge step forward for us. It represents not only the validation of our business model and approach to innovation, but also of the potential for digital assets to become a core part of our lifestyle,» Zipmex CEO, Marcus Lim, said in the announcement.
Founded in 2019, Zipmex currently operates in Singapore, Thailand, Indonesia, and Australia, and has processed $4 billion in gross transaction volume to date.
Digital Asset Products
The platform has a range of products for digital asset holders, including flexible and fixed-term earnings accounts, as well as a digital asset payment solution for businesses looking to accept cryptocurrency as payment, and a Visa-backed payment card.
The company is currently in advanced stages of applying for a Major Payment Institution licence application with the Monetary Authority of Singapore (MAS) for, among others, digital payment token services.
