Zipmex, a cryptocurrency exchange based in Singapore, announced on Friday that it has appointed an Australian restructuring firm, KordaMentha Pte, to assist with a recovery plan.
Apart from that, Zipmex revealed that it is in advanced talks with two potential investors – Country Group Holdings (CGH), a Thailand-based investment firm, and Chalermchai Mahagitsiri, son of Thai billionaire and coffee king Prayudh Mahagitsiri – for a potential deal. That is according to a source with direct knowledge of the matter.
CGH is an investor in Thailand-based Cryptomind Group, which operates decentralized finance (DeFi) asset management platform called Elkrem Capital, the source disclosed.
As per the source, Mahagitsiri plans to invest in Zipmex through his cybersecurity services firm called Cloudsec Asia. Mahagitsiri is also one of Zipmex's major creditors.
Mahagitsiri owns 10% of Cloudsec Asia through his venture unit V Ventures Technologies Company. The source revealed that V Ventures is also...
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