Crypto firm Zipmex eyes Australian market with new trading app

Crypto firm Zipmex eyes Australian market with new trading app

Singaporean-based crypto company Zipmex has launched a new trading app while it awaits official regulatory approval to operate in Australia.

Zipmex offers digital currency services in Australia, Thailand, Indonesia, and Singapore. According to reports, it recently joined Blockchain Australia and is in the process of getting certification from the association.

The company stated that its new mobile app will be available for both iOS and Android. It can be used to deposit and withdraw USD and SGD fiat currencies and trade in Bitcoin, Ethereum, XRP, and Litecoin.

In addition to crypto trading, the app also offers market analysis, comparing 24-hour transaction comparisons across volume and price.

Co-founder and CEO Marcus Lim said:

Just like our desktop portal, users will be able to capitalise on Zipmex’s ability to aggregate volume from global exchanges and OTC desks into one platform, providing significantly higher liquidity and competitive prices.

The company already has regulatory approval in Thailand and Indonesia and is ready to launch services down under. Lim added that the regulation has been key to legitimizing their market and products.

The fintech firm added that it had traded AU$60 million worth of assets in its first six months of operation in Indonesia, and achieved a market capitalization of US$18 million[US$27.5 million] on its first year.

Image courtesy of Zipmex

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