• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, August 19, 2022
Online Crypto College
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
Online Crypto College
No Result
View All Result

Coinbase To Invest in Singapore’s Zipmex following Acquisition Talks

June 10, 2022
in Blockchain
Reading Time: 3 mins read
A A
ShareShareShareShareShare

US crypto exchange Coinbase has opted to make strategic investments in Zipmex, a digital asset exchange based in Singapore. 

Related articles

SuperLayer Raises $25M With Backing from Polygon

August 19, 2022

Opinion: What is driving the ‘crypto winter’?

August 19, 2022

Early this year, Coinbase was planning to acquire Zipmex. But local media reported that the US platform has signed a term sheet committing to make an investment in Zipmex.

Zipmex is currently looking to raise US$40 million in series B+ funding later this year at a valuation of US$400 million.

Launched in 2018, Zipmex has already bagged some $52 million in Series B funding — $41 million raised in September 2021 while $11 million in March this year. The exchange planned to use the funding to expand its presence across Southeast Asia.

Zipmex’s existing investors MindWorks Capital, Master Ad, Bank of Ayudhya’s Krungsri Finnovate, V Ventures, TNB Aura, and B Capital.

Zipmex is headquartered in Singapore and has offices in Indonesia, Thailand, and Australia.

Keeping Pace with Industry Transformations

Coinbase could have increased its footprint in Singapore through the acquisition of Zipmex. But the crypto crash has forced the exchange to rethink its expansion plans.

Earlier this month, Coinbase announced a withdrawal of some job offers and paused hiring indefinitely. The exchange said that the decision is because of the ongoing global economic downturn and the current macro environment coupled with volatility in the crypto market.

Singapore is a major financial hub that has witnessed an increase in crypto adoption. About 93% of its population has moderate insights into the crypto industry and investors looking to invest in reliable crypto exchanges in the country.

Coinbase is one of the best crypto exchanges in Singapore, including Crypto.com, Capital.com, Independent Reserve, and Zipmex.

While Singapore is seeking to cement itself as a key player in crypto-related businesses, its Central Bank (the Monetary Authority of Singapore – MAS) has been putting in place “strong regulations”, so firms that meet its requirements and address risks can operate.

In the country, crypto exchanges must be supervised and licensed under the city-state’s Payment Services Act, mainly for terrorism financing and money laundering risks.

Over 500 companies applied for approval to offer crypto services in Singapore, but only a few have received a full license, while more than 100 firms have either been turned down or withdrawn their applications.

In spite of stricter regulations, investment in the blockchain and crypto sector in Singapore increased tenfold last year. In 2021, Singapore saw 82 deals worth a combined $1.48 billion, according to a KPMG fintech report.

 

Image source: Shutterstock

Credit: Source link

ShareTweetSendPinShare
Previous Post

Second Circuit Court Order’s Terraform Labs and Do Kwon to Comply With SEC’s Subpoena

Next Post

PartyDAO Raises $16.4 Million Led by a16z

Related Posts

SuperLayer Raises $25M With Backing from Polygon

August 19, 2022

SuperLayer, a blockchain venture studio, has secured $25 million in funding with backing from its strategic partner, Polygon Network -...

Opinion: What is driving the ‘crypto winter’?

August 19, 2022

As record breaking temperatures have scorched the Northern Hemisphere, winter has hung over the crypto industry, with 2.25 trillion lost...

Yuga Labs Hires Former Rally Executive Chris Fortier as VP of Products

August 18, 2022

Yuga Labs, the developer of the Bored Ape Yacht Club (BAYC), has hired Chris Fortier as its VP of Product....

VC Shima Capital to Launch $200m Shima Capital Fund I for Web 3 Industry

August 18, 2022

Early-stage venture capital Shima Capital will launch Shima Capital Fund I, the first fund to support emerging digital assets for...

ECB Publishes New Guideline on Regulated Digital Asset Licensing

August 18, 2022

The European Central Bank (ECB) has issued new licensing guidelines for regulating digital assets, although it currently does not have...

Load More
Next Post

PartyDAO Raises $16.4 Million Led by a16z

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Elon Musk Says He’s Buying Football Club Manchester United – Will He?

August 17, 2022

Brazil’s Largest Broker Launches Bitcoin Trading – Bitcoin Magazine

August 15, 2022

ENS reaches 2 million names created

August 17, 2022

Institutional Interest Increases in Ethereum With The Merger Around The Corner

August 13, 2022

UN Agency Urges Authorities to Curb Cryptocurrency Expansion in Developing Countries – Regulation Bitcoin News

August 16, 2022

About Us

This is an online news portal that aims to provide the latest Crypto news, Altcoins, blockchain, regulations and much more stuff like that around the world. Feel free to get in touch with us!

What’s New Here!

  • How Will Bitcoin (BTC) Price Perform In the Last 4 Months of 2022?
  • ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’ – Regulation Bitcoin News
  • Cosmoverse is bringing the best of the Cosmos ecosystem to Latin America

Newsletter

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$21,898.00-6.53%
  • ethereumEthereum(ETH)$1,743.09-5.57%
  • tetherTether(USDT)$1.000.22%
  • usd-coinUSD Coin(USDC)$1.000.13%
  • binancecoinBNB(BNB)$283.26-8.17%
  • Binance USDBinance USD(BUSD)$1.000.16%
  • rippleXRP(XRP)$0.346263-7.77%
  • cardanoCardano(ADA)$0.474728-12.08%
  • SolanaSolana(SOL)$36.62-10.60%
  • dogecoinDogecoin(DOGE)$0.070408-13.33%
  • polkadotPolkadot(DOT)$7.52-11.34%
  • Shiba InuShiba Inu(SHIB)$0.000013-12.70%
  • Lido Staked EtherLido Staked Ether(STETH)$1,692.11-5.83%
  • daiDai(DAI)$1.000.23%
  • AvalancheAvalanche(AVAX)$22.29-13.82%
  • tronTRON(TRX)$0.065255-4.49%
  • matic-networkPolygon(MATIC)$0.79-11.45%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$21,895.00-6.50%
  • OKBOKB(OKB)$19.02-9.31%
  • ethereum-classicEthereum Classic(ETC)$35.09-13.82%
  • leo-tokenLEO Token(LEO)$5.14-2.63%
  • litecoinLitecoin(LTC)$55.75-8.50%
  • FTXFTX(FTT)$27.81-7.99%
  • NEAR ProtocolNEAR Protocol(NEAR)$4.46-13.09%
  • chainlinkChainlink(LINK)$7.12-12.89%
  • CronosCronos(CRO)$0.130588-8.82%
  • UniswapUniswap(UNI)$7.06-12.34%
  • cosmosCosmos Hub(ATOM)$10.55-11.40%
  • stellarStellar(XLM)$0.110093-8.79%
  • moneroMonero(XMR)$152.12-10.04%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • FlowFlow(FLOW)$2.32-12.51%
  • bitcoin-cashBitcoin Cash(BCH)$120.58-9.70%
  • algorandAlgorand(ALGO)$0.310308-9.81%
  • vechainVeChain(VET)$0.026452-10.18%
  • filecoinFilecoin(FIL)$6.76-17.75%
  • ChainChain(XCN)$0.082506-2.42%
  • ApeCoinApeCoin(APE)$5.28-14.60%
  • Internet ComputerInternet Computer(ICP)$6.42-13.25%
  • decentralandDecentraland(MANA)$0.86-12.51%
  • The SandboxThe Sandbox(SAND)$1.07-12.30%
  • HederaHedera(HBAR)$0.065786-11.35%
  • tezosTezos(XTZ)$1.62-12.87%
  • FraxFrax(FRAX)$0.99-1.35%
  • QuantQuant(QNT)$101.52-9.56%
  • Axie InfinityAxie Infinity(AXS)$14.83-13.39%
  • eosEOS(EOS)$1.32-9.08%
  • true-usdTrueUSD(TUSD)$1.000.26%
  • theta-tokenTheta Network(THETA)$1.23-13.18%
  • AaveAave(AAVE)$87.24-12.58%