Crypto boom in Asia sees rise in traders and a demand for new platforms
Leading licensed digital trading platform Zipmex announced its launch in Thailand with its official mobile app. The expansion comes after successful launches in Singapore, Indonesia, and Australia as the company continues to accelerate operations across Southeast Asia to fuel a rising demand for digital currency due to the recent regulation changes in the market.
Zipmex’s timely expansion into Thailand coincides with Project Inthanon by the Bank of Thailand, which is now entering phase three of development. Project Inthanon is a collaborative project between the central bank and financial institutions with the key objective of developing and testing a proof of concept for domestic wholesale funds transfer using a wholesale Central Bank Digital Currency. This initiative supports the notion that change is on the horizon pertaining to digital currency regulations and its acceptance in Thailand.
Zipmex offers traders a variety of investment opportunities in cryptocurrencies and digital assets. This innovative platform provides users with access to a liquid market featuring a wide selection of cryptocurrencies and financial access for anyone seeking investment opportunities.
The Southeast Asian market is experiencing a ‘crypto-boom’ with the current global pandemic with COVID-19 which is fueling a further shift for digital currencies and assets due to fiat currencies crashing. Pre-pandemic, this would typically result in a surge towards US currency, however, the market is experiencing a shift due to the growing interest in government-backed national digital currencies, with China emerging as a leader. The global perception and acceptance of digital assets is changing swiftly with the current economic climate and indicates the growing interest in crypto and digital assets across the region, and the emergence of a competitive market for new players.
Zipmex believes that investing in digital assets will become more and more mainstream. This is evident by the companies that Zipmex has partnered up for support of the company’s pre-launch including publicly listed Thaivivat Insurance, Traveloka, The Sala Hospitality Group, and The Water Library Group. The company has launched a promotional campaign of “Travel Anywhere, Trade Anytime” where exclusive prizes are awarded to customers that referred the most friends to Zipmex, while at the same time supporting the domestic hospitality industry.
Zipmex was founded in 2018 by Marcus Lim and Akalarp Yimwilai, with the aim of solving issues with e-currency access across Asia. The company is integrated with BitGo for digital assets, with up to $100 million insured by Lloyd’s of London. Today Zipmex has over 20,000 users and sees over $60 million USD traded. Operating across Singapore, Indonesia, Australia and now Thailand, Zipmex continues to expand its functionality and features from cryptocurrency to traditional markets with plans to expand across the region further.
Speaking on the launch in Thailand, co-founder and CEO of Zipmex Thailand, Akalarp Yimwilai, said:
“We are thrilled to be able to open our services to Thailand. The journey here has only just begun as we launch our services into the Thai market and we are determined to forge key relationships with our most important partner – the customer. After experiencing a spike in demand for crypto services during the first half of 2020, we look forward to having the opportunity to engage with our new clients to provide a secure, trusted and reputable digital asset exchange platform in return.”