Asia crypto exchange Zipmex Pte plans to allow users to withdraw some tokens from their trading accounts.
The exchange set a timeline for withdrawals of Solana’s SOL, Ripple’s XRP and Cardano’s ADA, from Zipmex’s Z Wallet. Larger coins including Bitcoin and Ether remain locked up, the company said in a statement.
Zipmex, which operates in Thailand, Singapore, Indonesia and Australia, halted withdrawals in July, citing “volatile market conditions, and the resulting financial difficulties of our key business partners.” Last week, Thailand’s Securities & Exchange Commission ordered Zipmex’s Thai unit to lift a freeze on some digital coins.
SOL tokens would be released Aug 2, XRP on Aug 4 and ADA on Aug 9, Zipmex said. Withdrawals from Zipmex’s yield-based program ZipUp+ remain suspended.
The company is one of many crypto firms that have been caught by the US$2 trillion ($2.76 trillion) meltdown in value of digital tokens, and forced to either halt withdrawals or file for bankruptcy. Last month, Zipmex filed for a moratorium in Singapore court for protection from creditors against any lawsuits and to buy time to arrange a restructuring plan.
