Skip to content

Crypto Exchange Zipmex To Get $100 Million Venture Capital Buyout

  • V Ventures seeks to buy 90% stake with cryptocurrency and cash
  • A wave of defaults has ripped through the industry this year

Embattled Asian cryptocurrency exchange Zipmex Asia Pte. is poised to be acquired by a venture capital fund for about $100 million in digital coins and cash, one of the first rescues in Asia since a wave of defaults ripped through the sector.

V Ventures, a subsidiary of Thoresen Thai Agencies Pcl, is offering $30 million in cash and the remainder in crypto tokens, said a person familiar with the matter. A share sale agreement detailing the deal terms was presented, according to a court hearing on Friday in Singapore, which did not identify the buyer.