Zipmex applied to the Singapore court to extend the creditor protection period until April 2023

According to ChainCatcher, as reported by CoinDesk, Zipmex has applied to the Singapore court to extend the creditor protection period until April 2023. Sources revealed that Zipmex is still negotiating with an investor regarding a potential acquisition deal that could be completed as early as next week.

ChainCatcher previously reported that Zipmex may sign a rescue plan worth over $100 million, which will be led by the venture capital firm V Ventures, founded by coffee king Prayudh Mahagitsiri's son, Chalermchai Mahagitsiri, in exchange for 90% of Zipmex's shares. (CoinDesk)