Zipmex, the operator of Asian crypto exchange that has sought protection from creditors, plans to bring together potential investors and regulators before it seals a fund-raising plan.
Zipmex has asked for meetings with the Securities Exchange Commission (SEC) in Thailand, where it runs a licensed-exchange, and government agencies to present a recovery plan, it said in a statement. Potential investors will attend the meetings too, it said.
- Explainer: Lowdown on Zipmex situation
Zipmex ran into a liquidity crunch after its exposure to embattled Babel Finance soured, forcing it to halt withdrawals. Since then it has partially eased some of the token withdrawals.
The firm, which also has also operations in Singapore, Indonesia and Australia, is under a moratorium until Dec 2 that provides it protection from creditors while it finalises investors for fresh funding.
On Thursday, SCB X Group filed a statement with the Stock Exchange of Thailand (SET) reporting its business group and Bitkub Capital had mutually agreed to terminate the crypto exchange investment plan, amid uncertainty over Bitkub's settlement of regulatory issues with the SEC.
- Related: SCB X scraps Bitkub investment plan
