1. Startups

Zipmex Announces Funding of 84,4 Billion Rupiah, Awaiting Passion for Crypto Asset Investment

Already has a business unit in Indonesia and is registered with CoFTRA

Buy-sell platform developer crypto assets Zipmex announced that it has secured a series A funding of $6 million or the equivalent of 84,4 billion Rupiah. The funding round was led by Jump Capital, an American venture capitalist specializing in developing digital investment applications. The new funding will be used to diversify Zipmex's product offering, including expansion of ZipUp's interest-bearing products and ZMT digital token.

Zipmex itself has its headquarters in Singapore and its services have expanded in several countries, including Indonesia, Australia, and Thailand. In Indonesia, they are under PT Zipmex Exchange Indonesia, and currently have obtained a registered certificate from CoFTRA along with 13 other players.

Last June 2020, CoFTRA issued an announcement letter No.477.1/BAPPEBTI.4/PENG/06/2020 releasing a list of companies as potential physical traders of crypto assets. Here's the list:

CompanyBrandAsalPlatform
PT Crypto Indonesia BlessingtokocryptoIndonesiaWeb, Mobile
PT Upbit Exchange IndonesiaUpbitSouth KoreaWeb, Mobile
PT Tiga Inti UtamaTrivIndonesiaWeb, Mobile
PT Indodax National IndonesiaIndodaxIndonesiaWeb, Mobile
PT Pintu Where have you beenPintuIndonesiaWeb, Mobile
PT Zipmex Exchange IndonesiazipmexSingaporeWeb, Mobile
Prima Crypto ExchangeTaste--
PT Luna Indonesia LtdLunoInggrisWeb, Mobile
PT My Account Dotcom Indonesiamy accountIndonesiaWeb, Mobile
PT Indonesia Digital ExchangeDigital ExchangeIDIndonesiaWeb, Mobile
PT Cipta Coin Digitalmy coinsIndonesia-
PT Triniti Investama BlessingBitoctoIndonesiaWeb, Mobile
PT Plutonext Digital Asset---

From searches made through search engines, directory sites, and marketplace app, we did not find complete information regarding the Bicipin platform, Plutonext; while Koinku the site is only limited landing page not able to make transactions.

Zipmex in Indonesia

To DailySocial, a Zipmex representative said, from Q4 2020 until the beginning of this year, the volume of trade transactions in Indonesia grew by up to 100% -- although no detailed user statistics were mentioned. To accelerate the business, the local team is also preparing specific products that are tailored to the characteristics of the users here.

"Audience generally prefer digital asset investments with long-term prospects. Marketexchanges others may focus on needs traders, while we focus on providing facilities trading best. We also offer ZipUp where users can users can earn interest up to 14% per annum with a flexible savings account. So, they will get additional money from capital gain and flowers," said a Zipmex representative.

He further explained, through the ZipUp service, investors can choose a variety of assets, including Bitcoin (BTC), Ethereum (ETH), xBullion (GOLD), USD Circle (USDC), and USD Tether (USDT), and will not incur any fees other than normal withdrawal fees. Interest is paid daily, with no fixed term and no minimum deposit amount. Since launching three months ago, ZipUp has raised more than $40 million in deposits.

In response to the interest of the Indonesian people to invest in crypto assets, "Crypto assets can be a viable instrument in addition to stocks, mutual funds, p2p loans, or other digital investments. By increasing awareness market against cryptocurrency and institutional investors starting to allocate portfolios in crypto asset investments, we hope that more and more people are interested in trying crypto asset investments."

Zipmex itself right now working with Pluang, allowing investors in the app to transact crypto assets. Previously Pluang was known as an investment platform with gold instruments and the S&P 500.

Passion for investing in Indonesia

mid 2020, DailySocial with Populix held survey of investment application users in Indonesia. Of the 209 respondents who took the survey, the highest percentages for the type of investment they chose were mutual funds (67%) and gold (62,7%). Other types of investment that respondents chose sequentially were stocks (44,5%), P2P lending (16,3%), and bonds (11,5%).

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Regarding the consideration of choosing this type of investment, respondents answered that this was in accordance with their risk profile (48,8%), new to learning (24,4%), friend recommendation (10,4%), and most familiar (8,1%). ).

If we look further, instruments such as mutual funds, gold, or stocks are actually quite familiar with users before the investment era through applications. So it's likely to be easier to educate than crypto assets which are completely new to a lot of people.

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