ZipMex, a digital asset exchange headquartered in Singapore, today announced that it has raised $ 6 million under the leadership of Jump Capital. The startup, which plans to become a digital asset bank, says the round is over its initial target of $ 4 million. With earlier funding, it brings the total zipmex Raised to $ 10.9 million so far.
The exchange is regulated in Singapore, Australia and Indonesia, and licensed in Thailand. It provides a new focus on cryptocurrencies for investors with educational features, as well as high net worth individuals, and says that it has exceeded $ 600 million in gross transaction volume since its launch in late 2019. Has done
The funding will be used to add hiring and more product offerings. In addition to its cryptocurrency exchange, Zipmex’s services also include ZipUp, its interest-bearing accounts and its own ERC-20 token ZMT.
ZipMex aims to become the largest digital exchange in Asia Pacific, where cryptocurrency investment and interest in blockchain technology is growing rapidly. For example, DBG Group Holdings, the largest lender in Southeast Asia, recently launched a crypto exchange, although it is currently open to professional investors only.
But ZipMex is also up against a roster of competitors, including regional exchanges such as Bitcob in Thailand and SwiftX in Australia, as well as players such as Luno, Coinbase and Binance that are targeting growth in the Asia Pacific region.
ZipMex CEO Marcus Lim said the company’s ambition to become a digital assets bank is different from other exchanges. “We currently offer customers to invest on their digital assets and earn interest,” he told ClearTips. “In the future, we plan to pay and lend and invest in securities tokens.”
Other cryptocurrency startups, which are Jump Capital, an American venture capital firm, have included BitGo and TradingView. Its parent company, trading firm Jump Trading, empowers Robinhood’s crypto trades.