Zipmex requests 2 month extension from Singapore court for restructuring plan

1. Zipmex's Restructuring Plan Zipmex,a Singaporean cryptocurrency exchange,has requested a two-month extension from the Singapore court for its restructuring plan. The company's restructuring plan was originally submitted in March 2021. The extension request is due to the prolonged negotiations with some of the creditors,which has affected the company's ability to meet the required timelines. The extension will allow Zipmex to restructure its debts and liabilities,which will provide it with better financial stability and sustainability. 2. Impact of the Restructuring Plan on the Crypto Industry Zipmex's successful restructuring plan can have a positive impact on the cryptocurrency industry in Singapore. It can help to restore investor confidence,particularly after the recent crackdown by the Monetary Authority of Singapore (MAS) on cryptocurrency exchanges. A successful restructuring plan for Zipmex can serve as a model for other cryptocurrency exchanges to follow,particularly those facing financial challenges. 3. Zipmex's Future Plans Zipmex's restructuring plan includes expanding its operations globally,particularly in the Asia-Pacific region. It also intends to increase its product offerings,including the launch of a mobile application,among others. Furthermore,it plans to enhance its compliance measures to meet regulatory obligations and ensure the security of its platform. These plans align with Zipmex's vision to become the leading cryptocurrency exchange in the Asia-Pacific region.

source https://titdoi.com/news/Zipmex-requests-2-month-extension-from-Singapore-court-for-restructuring-plan