cryptocurrency-exchange-zipmex-closes-$6m-funding-round

Cryptocurrency exchange Zipmex closes $6M funding round

Zipmex, a licensed cryptocurrency alternate, this day announced the closing of its most up to the moment funding round. The round used to be led by Soar Capital, a US enterprise capitalist firm specializing in data-driven tech companies such as institutional cryptocurrency monetary services and products provider BitGo and investing community TradingView.

The total amount raised exceeded the preliminary goal of USD $4 million to achieve USD $6 million. The elevate follows Zipmex’s pre-Sequence A elevate of USD $3 million in September 2019 and a USD $1.9 million seed round in January 2019.

“Here’s a thrilling day for all of us at Zipmex,” talked about Zipmex CEO Marcus Lim. “We are thrilled to love industry ancient Soar Capital main the funding round. Soar Capital’s wealth of ride in the dwelling and gigantic community will doubtless be worthwhile property as we be taught about to make digital asset investing accessible for everybody.”

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Zipmex is regulated in Singapore, Australia, Indonesia, and licensed in Thailand.

To this point, the platform has transacted over USD $650 million in depraved transaction quantity since its open in dreary 2019.

The unique funding will doubtless be feeble to extra diversify Zipmex’s product choices, in conjunction with the expansion of its passion-bearing product (ZipUp) and its unique native token ZMT.

US enterprise capitalist Soar Capital has invested in Zipmex out of their most up to the moment USD $200 million fund. Its portfolio comprises over 60 companies across the fintech, IT and data infrastructure, B2B SaaS, and media sectors.

“Zipmex is providing the Asia-Pacific say with a depended on, regulated, and modern digital asset alternate,” talked about Soar Capital Accomplice Peter Johnson. “We possess in the company’s mission and the fashion forward for digital asset investing in Asia. We sit up for working closely with the Zipmex group as they continue to book the industry in innovation and quality of provider.”

ZipUp Savings Program and ZMT Token

Zipmex not too long up to now carried out the a success open of its modern financial savings product ZipUp and its alternate token ZMT. ZipUp supplies retail investors up to 10.5% APY on their digital property. Merchants can take care of from a diversity of property, in conjunction with Bitcoin (BTC), Ethereum (ETH), xBullion (GOLD), USD Circle (USDC), and USD Tether (USDT), and pay no costs aside from phenomenal withdrawal costs.

Hobby is paid each day, there might be no mounted term, and no minimum deposit amount. Since its open three months up to now, ZipUp has bought most principal search data from from retail investors and has accumulated over USD $40M in deposits.

ZMT, the company’s unique native ERC-20 digital asset, supplies holders outlandish benefits such as higher ZipUp passion charges, trading charge reductions, and lower lending charges. All Zipmex customers who handed KYC and traded the equivalent of USD $100 sooner than December 17th, 2020 like already been issued tokens.

A total of 200 million ZMT tokens will doubtless be minted and distributed over a four-year duration.

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