Thailand's cryptocurrency exchange Zipmex sent a request to the SEC and other country regulators to discuss the “planrecovery." Potential investors will also take part in the meeting on September 15, writes Bloomberg.
The firm said it is at an "advanced stage" with two bidders for its assets after signing three letters of intent in July.
"Investors highly appreciate our potential and share our vision and mission of developing the digital economy in Thailand and Southeast Asia",- noted the company.
According to Cointelegraph, the platform could be valued at $400 million.
In August 2021, Zimpex raised $41 million. The funds were provided by the fifth largest bank in the country, Bank of Ayudhya, media companies and venture funds.
On August 25, the exchange announced the restoration of the possibility of transferring the native ZMT token between Trade Wallet and Z Wallet. The option is available through the website, through the mobile application - will appear later.
Recall that Zipmex faced a lack of liquidity after problems with partners - Babel Finance and Celsius Network. Their liabilities are $5 million and $48 million, respectively.
On July 20, the company suspended withdrawals, citing "volatile market conditions and the resulting financial difficulties of key business partners."
A few days later, Zipmex partially resumed deposits and withdrawals.
On August 15, the platform succeeded in extending the moratorium on protection from creditors until December 2.
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