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Crypto exchange Zipmex starts to allow some altcoin withdrawals

Bloomberg
Bloomberg8/3/2022 06:02 PM GMT+08  • 1 min read
Crypto exchange Zipmex starts to allow some altcoin withdrawals
Last month, Zipmex filed for a moratorium in Singapore court for protection from creditors against any lawsuits and to buy time to arrange a restructuring plan. Photo: Bloomberg
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Asia crypto exchange Zipmex Pte plans to allow users to withdraw some tokens from their trading accounts.

The exchange set a timeline for withdrawals of Solana’s SOL, Ripple’s XRP and Cardano’s ADA, from Zipmex’s Z Wallet. Larger coins including Bitcoin and Ether remain locked up, the company said in a statement.

Zipmex, which operates in Thailand, Singapore, Indonesia and Australia, halted withdrawals in July, citing “volatile market conditions, and the resulting financial difficulties of our key business partners.” Last week, Thailand’s Securities & Exchange Commission ordered Zipmex’s Thai unit to lift a freeze on some digital coins.

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