The popularity of crypto trading has had a meteoric rise over the course of the past few years, and much of the reason behind the rise is due to the establishment of high-class crypto exchanges. In a new development that will come as a further boost to crypto enthusiasts, Zipmex has been granted the highly sought-after digital assets exchange license by the securities regulator of Thailand.
Over the years, Zipmex has emerged as one of the most popular exchanges in the Asia-Pacific region. The new development paves the way for the exchange to get into one of the most vibrant economies in the region.
In a press release sent out today, the company confirmed that the Ministry of Finance and the Thai Securities and Exchange Commission granted the license. In this regard, it should also be noted that the regulatory body is known for its tight scrutiny of all applicants, so for Zipmex to be approved, it goes to show that it is a highly reliable platform for those interested in crypto trading.
For instance, for companies to be listed on the exchange, they need to prove that they have at least 50 million baht (around $1.65 million) in shareholder equity. In addition to that, there are other requirements with regard to cybersecurity protocols and information technology infrastructure.
The powers that be in Thailand introduced its own legal and regulatory framework in relation to crypto exchanges recently. In fact, the Thai SEC has so far got a total of as many as 30 applications, but two of those licenses have already been rejected.
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Zipmex is aiming to launch its services in Thailand soon, and that would prove to be a major achievement for the company. It has already launched its crypto trading exchange in Singapore, Australia, and Indonesia. It was back in 2018 that Zipmex raised $3 million from Infinity Blockchain Holdings, and since then, the company has gone from strength to strength.
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