Crypto Exchange Zipmex Resumes Withdrawals On Trading Wallet, Full Operations Has Stopped

Crypto Exchange Zipmex

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Crypto Exchange Zipmex Resumes Withdrawals On Trading Wallet, Full Operations Has Stopped

According to an update from the crypto exchange, trading on Zipmex partially resumed today. The maintenance of the platform's "trading wallet" ended on Friday and users can now take advantage of the facility. The wallet allows customers to deposit fiat currency and digital assets.

Zipmex's Z Wallet, a dedicated feature to encourage deposits, is suspended for merchants.It is not clear when or if full operations will resume shortly. Zipmex previously disabled withdrawals earlier this week, citing financial difficulties. CEO Marcus Lim insisted that the crypto exchange was not bankrupt, despite the rumours. According to the report, Zipmex was in touch with crypto lenders Babel Finance and Celsius.

Southeast Asian-based crypto exchange Zipmex has resumed partial operations and withdrawals on one of its wallets, after the platform stopped the facility earlier this week, citing volatile market conditions and financial difficulties. Green light is given. As reported by Ethereum World News, the crypto exchange announced a moratorium on user funds on July 20, 2022.

Zipmex leverages a two-wallet system on its platform and the update affected both the wallets. The wallet is known as Trading Wallet and Z Wallet. The trading wallet supports deposits for fiat currencies and cryptocurrencies, while Z Wallet is designed to encourage deposits by offering rewards and bonuses on such transactions. As of Friday's update, operations have been enabled only on the trading wallet. Z Wallet functionality remains unavailable at press time.

Zipmex, a Singapore-based computerized resources exchanging stage, today declared that it is stopping client withdrawals,The organization took to Twitter on Wednesday to report the move, refering to "a mix of conditions outside of our reach" that settled on it take the choice.

Zipmex, which markets itself as "Asia's driving computerized resources trade" and has workplaces in Thailand, Indonesia, and Australia, offers various items including digital money spot exchanging and premium bearing records.

As per the organization's site, clients can appreciate up to 10% in remunerations each year by storing their assets on the stage. For instance, Zipmex professes to offer 6% profits from Bitcoin (BTC) and Ethereum (ETH), and 10% on the USDC stablecoin.

Already, the organization brought $52 million up in a Series B subsidizing round and had plans to venture into additional business sectors in Southeast Asia, including Vietnam.

Zipmex additionally got an undisclosed sum in funding from Coinbase, America's biggest crypto trade, in June. As per reports, Coinbase at first looked at a procurement of the trade, in any case, the sides settled on "an essential venture" all things considered.

Crypto Exchange, Zipmex Wallet, Cryptocurrencies, Fiat currency, Crypto Lenders, Trading Wallet, Digital Assets, Ethereum World News

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