Crypto platform Zipmex to start releasing Bitcoin, Ether for customers

People walk past advertisement screen boards showing a crypto exchange platform "Zipmex" in Bangkok, Thailand, July 27, 2022. REUTERS/Athit Perawongmetha

BANGKOK (Reuters) - Crypto exchange Zipmex will release Ethereum and Bitcoin tokens from this week, a spokesperson said on Monday, allowing 60% of its customers to retrieve their digital assets after a suspension of withdrawals from its Z Wallet product.

The Singapore-based Zipmex, which also operates in Thailand, Australia and Indonesia, in July halted withdrawals from Z Wallet, which it said had $53 million worth of cryptocurrencies exposed to Babel Finance and Celsius.

Ethereum will be released on Thursday and Bitcoin on Aug. 16, the company said. Last week it allowed digital coins XRP, ADA and SOL to be withdrawn.

Zipmex late last month said it was in talks with investors for potential funding.

The Thai Securities Exchange Commission on Saturday said it was collecting further information on affected customers and was working with customer representatives on the issue.

(Reporting by Chayut Setboonsarng; Editing by Martin Petty)

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