A few days ago, we reported that Zipmex, a Singapore-based crypto exchange, has joined the long line of crypto companies that have halted withdrawals on their platforms. Now, the exchange has announced that it has found a probable buyer that could save the company.
The terms of the deal were offered to Zipmex through an MOU (memorandum of understanding agreement). This is a non-binding offer that’s commonly a starting point in business negotiations. However, the name of the buyer and the details of the arrangement are still unknown.
Zipmex was already in talks with Coinbase in March. The popular crypto exchange was initially looking to acquire Zipmex, but decided on providing an undisclosed investment instead.
The announcement of the likely acquisition is another piece of good news related to Zipmex, after the company has again allowed user withdrawals for its Trade Wallet. However, the Z wallet, which provides users with rewards based on the amount of deposited funds, is still not available for withdrawals.