Zipmex co-founder and CEO Marcus Lim
Zipmex, a Singapore-headquartered digital assets exchange, has secured a US$41 million Series B round from a clutch of corporate investors and VCs.
Bank of Ayudhya’s corporate VC arm Krungsri Finnovate, leading Thai media giants Plan B Media and Master Ad (MACO), besides new and existing VCs, including MindWorks Capital and Jump Capital, participated.
With this, Zipmex’s total funding raised to date has touched US$52 million.
This deal marks Bank of Ayudhya’s — part of the Mitsubishi UFJ Financial Group — maiden investment in a digital asset platform in Southeast Asia.
Zipmex will use the new capital for product offerings and scaling its technology team to roll out new digital assets products in lending, payments and securities.
The digital assets exchange will also deploy a new marketing campaign throughout the out-of-home media network of Plan B Media and MACO. This aims to foster the possibilities of access for all to the power of digital payments.
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As per a press statement, the company also plans to launch Zipmex Card, a Visa-backed payment card, and ZLaunch, a platform that gives users early access to new investment tokens.
Founded in 2018 by Marcus Lim and Akalarp Yimwilai, Zipmex offers educational features for new investors and serves high-net-worth individuals through two earning accounts (one flexible and one fixed-term), underpinned by its native ZMT token.
The company also provides digital asset payment solutions to businesses and claims to have facilitated several regional-firsts in luxury vehicles, art, and property transactions.
Recently, Zipmex announced a partnership with Major Cineplex Group, the largest operator of movie theatres in Thailand, and digital payment startup RapidZ, to allow some moviegoers to buy tickets with cryptocurrencies like Bitcoin.
Zipmex CEO Marcus Lim said: “A marriage of digital assets and traditional banking can provide new innovative use cases for money, which we have demonstrated through ZipWorld. Further, the use cases of Zlaunch and ZipNFT are just the starting point of where we can evolve to be banking forward, lifestyle-focused.”
Zipmex claims to have bagged one million clients and processed more than US$4 billion in gross transaction volume to date.
The global exchange is also slated to be licensed in Thailand while operating under regulatory supervision in Indonesia and Australia.
In Singapore, Zipmex, through its subsidiary, is currently in the advanced stages of applying for a Major Payment Institution licence application with the Monetary Authority of Singapore (MAS) for digital payment token services.
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Image credit: Zipmex
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