Zipmex to Facilitate First Southeast Asian Luxury Condo Purchase With Crypto
Zipmex, Southeast Asia’s leading digital assets exchange, has partnered Thailand’s One.Six Development, the company behind the ultra-luxury condominium The Strand in the prestigious Bangkok neighbourhood of Thonglor, to facilitate cryptocurrency payments on Zipmex’s platform.
The partnership comes on the heels of Zipmex facilitating Asia’s first Lamborghini and Tesla purchases using bitcoin. It also tracks a larger global trend of property sellers accepting the world’s most popular cryptocurrency as an alternative to fiat currency. ZipSpend, the company’s payment network, also allows fine art lovers to purchase artwork with cryptocurrency.
“With the addition of One.Six to our ZipSpend network, we are redefining the real estate purchasing experience. Bank transfers of this size can sometimes take days to clear. Crypto payments, regardless of size, take seconds to complete and are confirmed in minutes,” said Zipmex CEO Marcus Lim.
Operating and legally compliant in Singapore, Thailand, Indonesia, and Australia, Zipmex’s mission is to break down barriers, then educate, excite, and enrich everyday people on its digital asset platform. Through its easy-to-use mobile apps and websites, users get access to a variety of financial services, including digital payments, exchange, and interest-bearing accounts. To date, the platform has transacted over US$1 billion in gross transaction volume since its launch in late 2019. In January of this year, the company secured $6 million in a funding round led by Jump Capital.
One.Six Development was co-founded in 2017 by Tanyatip Chearavanont, granddaughter of Charoen Pokphand Group Senior Chairman and Thailand’s richest man Dhanin Chearavanont, and Chawin Athakravisunthorn, great-grandson of former Thai prime minister Pote Sarasin. The Strand, its flagship property, is being developed in conjunction with Magnolia Quality Development Corporation Limited. One.Six’s aim is to set a new benchmark for luxury property in Thailand by delivering a world-class standard of quality and aesthetics. The decision to start accepting crypto payments through Zipmex is an extension of that goal.
“We are excited to enter this partnership with Zipmex—accepting cryptocurrency is just the start. We are already making plans to launch NFTs on their new platform as well as exploring a real-estate backed token (ICO) for our future projects targeting investors throughout Asia Pacific,” stated Chawin Athakravisunthorn, Managing Director of One.Six Development.
Zipmex aims to create a comprehensive and trustworthy digital payments ecosystem where existing and new users will feel safe investing in the digital assets space. The company is constantly improving user experience and security as well as working closely with regulators and facilitating community outreach.
That includes its own native Zipmex token (ZMT) to reward users in its digital assets ecosystem with numerous benefits, such as additional yield, and soon, reduced fees, upgraded payment rewards, as well as allocation of new tokens to be listed on Zipmex, and access to its upcoming non-fungible tokens platform.
As Zipmex aims to integrate personal finance with personal lifestyle, the company is planning to introduce crypto payments across the board, with ZMT being a key focus in this digital payments revolution. It has already established several ongoing partnerships with merchants from many different industries ranging from renowned car distributors, real estate players, large cinema chains, and soon universities which can accept ZMT as a form of payment, signifying the trust partners have with Zipmex within the ecosystem.
In addition to ZipSpend, Zipmex plans to strengthen its foothold in the market with the launch ZipNFT—a marketplace for NFTs, Z-Launch—a launchpad and funding mechanism for new projects, and ZipCard—a payment card for users.