Zipmex gradually resuming Z Wallet withdrawals, says debt moratorium is not bankruptcy

Altcoins kept in Z Wallets now will be transferred into Trade Wallets. Only Bitcoin (BTC), Ether( ETH) and Stablecoins will remain in Z Wallets. Zipmex assured its customers that it would begin to launch some tokens (ETH, BTC and stablecoins) into your Trade Wallet starting in August.

Zipmex, a crypto exchange that operates in Australia, Indonesia, Singapore, and Thailand, issued a declaration this week, rejecting reports of insolvency filings and revealing development in resuming withdrawals to its Z Wallets.

Trade Wallet has actually credited Zipmex SOL holders Solana in your Z Wallet on August 2, 2022. For more queries, connect to Customer Support on Live Chat – were ready to help 24/7 pic.twitter.com/jCLSAppVtK
— ZIPMEX (@zipmex), August 2, 2022

Zipmex provides 2 wallets to its customers: the Z Wallet which is used for Zipmex services, invoices, incomes and perks, and the Trade Wallet where funds and fiat currency are kept. Zipmex suspended all withdrawals from its platform, but resumed trade Wallet withdrawals two days later.

Zipmex customers will be able withdraw Solana (SOL), Tuesday from their wallets, and XRP (ADA) on Thursday.

Similar: Thai SEC launches a digital hotline to Zipmex customers

Zipmex also stated that it was working carefully with Babel Finance to return Zipmexs funds.

Zipmex also used the occasion to clarify its legal actions and inform the general public that it had actually filed a demand for a moratorium in Singapore on financial obligation. Zipmex financial institutions can file documents with the court up to Aug. 5. Zipmex Singapore will submit its documents one week later, so that the court can begin deliberating on the moratorium.

Zipmex uses 2 wallets to its customers: the Z Wallet which is used for Zipmex services, receipts, perks and incomes, and the Trade Wallet where funds and fiat currency are kept. Zipmex suspended all withdrawals from its platform, however resumed trade Wallet withdrawals two days later on. Zipmex promised its clients that it would start to launch some tokens (ETH, BTC and stablecoins) into your Trade Wallet starting in August.

Zipmex also mentioned that it was working closely with Babel Finance to return Zipmexs funds. It also signed a Memorandum Of Agreement with 2 financiers and got extra financial investment from an investor. Its biggest financier is B Capital, a Singaporean venture capital firm. Dive Capital from the United States and Mindworks Ventures from Hong Kong are likewise amongst its leading three.
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