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Bangkok Post

Business

Crypto exchange Zipmex set for $100m buyout

Zipmex SET Crypto Asia Cryptocurrency

The digital asset exchange Zipmex opened a Crypto Arcade and Experience Center at Siam Paragon for a few weeks earlier this year to familiarise the public with its activities. (Bangkok Post File Photo)

The embattled cryptocurrency exchange Zipmex Asia is poised to be acquired by a venture capital fund for about US$100 million in digital coins and cash, one of the first rescues in Asia since a wave of defaults ripped through the sector.

V Ventures, a subsidiary of the SET-listed shipping company Thoresen Thai Agencies Plc, is offering $30 million in cash and the remainder in crypto tokens, said a person familiar with the matter. A share sale agreement detailing the deal terms was presented, according to a court hearing on Friday in Singapore, which did not identify the buyer.

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