Zipmex Group, a Southeast Asia-based digital asset platform, has invested in Forward, a Thai-based Fintech company specialized in DeFi Derivatives Trading, “backed by Genesis Block Ventures Capital is now valued at $50 million.”
The investment, made by Zipmex’s business unit, Zipmex Labs, aims “to increase operational potential for Zipmex and support blockchain projects and entrepreneurs to strengthen the crypto ecosystem.”
Marcus Lim, CEO and Co-Founder of Zipmex Group:
“This investment reinforces our industry leadership. We’re continuously aiding growth in the digital asset industry to help realize our innovative potential for Zipmex. That’s why we’re delighted to be part of laying a solid foundation and helping to speed up developments in decentralized finance, with the best benefits for our users being the ultimate end goal.”
Chanon Jaratsuttikul, CEO and Co-Founder of Forward Holdings:
“Every day, the derivatives digital asset market is gaining momentum in driving the global economy. It’s an excellent tool for hedging and maintaining investor wealth. This investment extends our global network of alliances and brings us a step closer to becoming a leading Thai tech company.”
As noted in the update shared with CI, Zipmex claims to be Southeast Asia‘s fastest growing digital assets platform with “a focus on building the foundation of Asia’s financial architecture to empower everyone to experience the digital assets world.”
The company’s Thai subsidiary has “a Digital Assets Exchange license and Brokerage license issued by the Ministry of Finance of Thailand, and is regulated by the Securities and Exchange Commission.”
The company has offices “across Southeast Asia: Singapore, Australia and Indonesia.”
As noted in a release, Zipmex Labs “empowers entrepreneurs with the potential to transform the crypto ecosystem through innovative business ideas.”
Zipmex Labs “provides early-stage project support, financing and Zipmex ecosystem support such as potential listing on ZLaunch and the Zipmex exchange.”
It provides selected projects “with immediate access to the extensive Zipmex user base as well as localized marketing and branding to speed up mass adoption of the projects’ products in Southeast Asia and beyond.”
As mentioned in the announcement, Forward is “a decentralized finance platform on EVM based chain offering three main services, the decentralized derivative exchange (exchange), lending and borrowing pools (LBPs) and NFT for Trading.”