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Zipmex, an Asian cryptocurrency exchange, has requested talks with Thailand’s Securities Exchange Commission (SEC) and other regulators to explore the company’s recovery strategy.In a statement on Thursday, Zipmex said that it has submitted a letter requesting meetings with the securities regulator, which will also include potential investors.Though the company did not reveal the identity of the investors, Zipmex stated that it was in the advanced stages of discussions with two investors after signing three MOUs in the previous month.The funding round was first mentioned in June, implying that the possible capital injection was unrelated to the company’s recent financial troubles.“The investors with whom we have met thoroughly understand our potential and embrace our vision and objective of creating the digital economy in Thailand and Southeast Asia,” said Zipmex.Despite the lack of identities at this point, the investment round is estimated to be worth $40 million at a $400 million valuation. Notably, during the first quarter,<a href="https://www.coingabbar.com/en/exchanges/gdax" rel="noopener noreferrer nofollow"> Coinbase invested</a> strategically in Zipmex but did not disclose the figures.The requested meetings with the SEC come one month after the regulator established a hotline for investors affected by the withdrawal suspensions to voice their concerns about the situation.On August 15,<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> CoinGabbar</a> reported that it has received more than three months of creditor protection, shielding the exchange from prospective creditor litigation until December 2, 2022, while it develops a restructuring strategy.With authorities keeping a tight eye on Zipmex, the upcoming discussions should offer crucial information about how the company may function in the future. Zipmex claimed that it will provide further clarification on the matter around the middle of September.Another development in Zipmex’s efforts to resume full operations was the announcement on Thursday that wallet transfers for its native token ZMT between its Z Wallets and Trade Wallets have been resumed this week. However, at this time, it is only available through its website and not through the Zipmex App.“By restarting the Z Wallet service and attempting to remedy the aforementioned issues. I can affirm that we will continue to go forward to restart services in order to serve our clients effectively and equitably,” said Zipmex co-founder Akalarp Yimwilai.The company runs compliant exchanges in Thailand, Indonesia, Singapore, and Australia. As a result, Zipmex officially suspended wallet withdrawals in late July due to market volatility this year and exposure to businesses such as Babel Finance and Celsius.Since then, Zipmex has progressively restored withdrawals for a limited amount of assets kept in Z Wallets, while trade wallet withdrawals were promptly restored in July.

Top Cryptocurrency News: Zipmex Requests Meetings with Thai Regulators to Discuss ‘Recovery Plan’

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