Home Articles Aussie serial tech entrepreneur brings trusted crypto exchange Zipmex to Australia

Aussie serial tech entrepreneur brings trusted crypto exchange Zipmex to Australia

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Marcus Lim

Expectations of growth has prompted Singapore-headquartered digital asset exchange Zipmex to launch in Australia, bringing more trading opportunities and greater liquidity options to domestic crypto traders.

Zipmex was co-founded by serial entrepreneur Marcus Lim, who previously co-founded online marketplace Oneflare. In 2016 Fairfax Media purchased a 35 per cent stake in Oneflare for AU$15 million.

Zipmex Australia will be the first exchange in the country to aggregate volume from some of the world’s largest exchanges and OTC (over-the-counter) desks, providing higher liquidity for users and will also provide insurance on the custody of digital assets.

Zipmex has registered with Australia’s top financial intelligence agency AUSTRAC.

Why is Zipmex interested in Australia?

Mr Lim said Australia had a growing appetite for cryptocurrencies, with Australia currently ranked within the top 15 countries globally for BTC volume by currency.

“Zipmex views the Australian market as a strategic opportunity to expand our trading platform. Australians are becoming increasingly comfortable with trading crypto assets and we want to provide them with a better trading experience,” said Mr Lim.

Zipmex Australia represents a joint-venture between specialist blockchain firm Decentralised Capital. Decentralised Capital is a blockchain and advisory firm specialising in institutional grade assets and services.

“Local exchanges are currently seeing low volume and high spreads, which has pushed many larger trades to OTC desks to get a better deal as they can offer fixed pricing and larger volumes,” said Decentralised Capital founder and director Stephen Moss.

“Although, ironically the OTC industry largely conduct trades over the phone, which is more comparable to stockbrokers in the 80s and 90s rather than blockchain.

“The opportunity to aggregate volume from global exchanges and OTC desks into one platform is exciting, and a huge step forward for the industry.”

Due to its global network with wholesalers, exchanges and OTC operators, Zipmex Australia will be well placed to provide leading cryptocurrencies at competitive prices and spreads, and is aiming to offer significantly increased market depth through aggregating multiple market participants.

What else is Zipmex up to?

Zipmex also plans to be the first Asia Pacific cryptocurrency exchange to launch and support the world’s first institutional grade gold-backed token, xbullion.

Mr Lim said Zipmex plans to release 30 tokens on its Australian exchange within the year, and 100 tokens on the platform by 2020.

“Zipmex is aiming to become a market leader by focusing on offering traders increased liquidity and choice,” said Mr Lim.

The company has also focused on the safety and security of its trading platform.

“Security and the protection of trader’s funds have remained key challenges and despite regulation being implemented around cryptocurrency, fraud and theft have continued. Zipmex has developed a multi-approval security process on its platform to adhere to the highest security standards,” said Mr Lim.

Zipmex is a regulated digital currency exchange provider which is aiming to become a market leader in the Asia Pacific region by offering fast trades, high liquidity and a broad choice of cryptocurrencies.

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