Zipmex requests meetings with Thai regulators to discuss ‘recovery plan’

Zipmex requests meetings with Thai regulators to discuss ‘recovery plan’

The firm stated that its potential investors will also attend the meetings, which will include Zipmex, Thailand’s SEC, and government agencies.

Asian crypto exchange Zipmex has requested meetings with Thailand’s Securities Exchange Commission (SEC) and other regulators to discuss the firm’s “recovery plan.”

In a statement on Aug. 25, Zipmex said it had submitted a letter requesting meetings with the securities regulator, which will also be attended by the firm’s potential investors.

“By resuming the Z Wallet service and doing everything possible to resolve the aforementioned problems. I can confirm that we will continue to move forward to resume services to serve our customers effectively and fairly,” said Dr. Akalarp Yimwilai, co-founder of Zipmex.

The company operates compliant exchanges in Thailand, Indonesia, Singapore and Australia. As a result of the market volatility this year and exposure to firms such as Babel Finance and Celsius, Zipmex officially paused wallet withdrawals in late July.

Since then, Zipmex has gradually restored withdrawals for a select number of assets held in Z Wallets, while trade wallet withdrawals were promptly re-enabled in July.

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