The encryption trading platform Zipmex issued an update announcement on the investment process. The investors of the trading platform initially asked ZipmexAsia to revise the investment amount, which affected the original arrangement plan approved by the Singapore court. The investor claims that the SSA (sale and purchase agreement) has lapsed and is no longer obligated to abide by the terms of the SSA.
The investors also demanded that Zipmex repay its working capital loan. The company is now in discussions with investors to find the best possible solution for all parties, which will require additional time for the investment process. Therefore, ZipmexAsia has submitted an application to the Singapore court to extend the moratorium for another 2 months. The court has not yet set a trial date. The company plans to use this time to find a solution to reopen Z Wallet.
The investors also demanded that Zipmex repay its working capital loan. The company is now in discussions with investors to find the best possible solution for all parties, which will require additional time for the investment process. Therefore, ZipmexAsia has submitted an application to the Singapore court to extend the moratorium for another 2 months. The court has not yet set a trial date. The company plans to use this time to find a solution to reopen Z Wallet.