Singapore-based digital assets exchange Zipmex announced on Tuesday that it has secured over $41 million in Series B funding round which includes participation from Krungsi Finnovate, the corporate venture arm of Thailand’s Bank of Ayudhya, as well as B Capital, TNB Aura, and V Ventures.

“We are proud to announce that Zipmex has secured over $41 million in Series B funding to continue our rapid growth and product innovation,” Zipmex Chief Executive Officer Marcus Lim said in a post on its website.

“We welcome our new investors with the Bank of Ayudhya’s corporate venture capital arm, Krungsi Finnovate, who has joined as an investor. Plan B Media Public Company Ltd and Master Ad Public Company Ltd have also announced their commitment to the company in the Series B fundraising,” he added.

Zipmex is a digital assets platform where users can buy, sell, and earn interest on digital assets such as Bitcoin, Ethereum, among others.

“This commitment from Krungsri Finnovate is a huge step forward for us. It represents not only the validation of our business model and approach to innovation but also of the potential for digital assets to become a core part of our lifestyle,” Lim said.

He added that the funding injection will allow the company to continue to build out the Zipmex Ecosystem to bring more value, experiences, and innovative products to its Zipmex community.

To date, Zipmex said it has helped to process over $4 billion in gross transaction volume since its launch in 2019.

“As digital assets have become increasingly popular, so has the demand for earn and spend products. ZipSpend and the Zipmex Card aim to revolutionize payments across the region by offering users greater flexibility, while ZipUp, ZipLock, ZipWorld, and ZLaunch provide unprecedented earning opportunities,” added Lim. “It is also important to note that any product we release will have to be approved by the relevant regulatory bodies first.”

In January, Zipmex announced that it has secured an oversubscribed $6 million round in fresh capital. The round of funding was led by US-based venture capital firm Jump Capital. Companies such as Bitso, BitGo, Curv, Personal Capital, M1 Finance, and TradingView also participated in the funding round.

Bank of Ayudhya is Thailand’s fifth-largest lender. Krungsri (Bank of Ayudhya and its business units) launches its subsidiary Krungsri Finnovate in April 2017, with the key focus in three core fintech activities–accelerator & academic collaboration, startup project management, and venture capital set at $30 million in three years.

Krungsri Finnovate aims to build fintech unicorns and integrate innovations to Krungsri’s products and services to enhance the customer experience, it said in a statement in 2017.

Singapore FinTech Zipmex raises $6M to grow its digital assets exchange in Asia Pacific