Zipmex has obtained approval from the Singapore court to extend the creditor protection period until April next year

ChainCatcher news, Southeast Asian cryptocurrency exchange Zipmex has received approval from the Singapore court to extend the creditor protection period until April 2, 2023. Additionally, any acquisition deal for Zipmex must be completed by December 21.

Previous reports indicated that Zipmex may sign a rescue plan worth over $100 million, which will be led by the venture capital firm V Ventures, founded by Thai billionaire and coffee king Prayudh Mahagitsiri's son, Chalermchai Mahagitsiri, in exchange for 90% of Zipmex's shares. (source link)