Master Ad buys a piece of Zipmex
published : 13 Oct 2021 at 04:00
newspaper section: Business
SET-listed Master Ad (MACO) is investing in Asia-Pacific's fastest growing digital assets exchange platform Zipmex.
The move demonstrates Master Ad's swift response to growing investor appetite in cryptocurrency, both in Thailand and internationally, said the company via a release.
Master Ad said the global market had witnessed the recent "crypto-boom" and the attractive returns on investment compared with other financial assets.
Phoon Chiong Kit, chief executive of Master Ad, said the decision to shift towards the digital asset business marks a pivotal transformation.
"We firmly believe by adapting to keep pace with global trends, through our investment in Zipmex as well as impending investments in the digital asset space, will help us secure new opportunities for growth generation beyond our traditional out-of-home media business," Mr Phoon said.
He said this move should help strengthen Master Ad's financial position and its capabilities to deliver high-quality services in the future.
Zipmex is regulated and licensed across four countries: Thailand, Singapore, Indonesia and Australia.
The firm aims to be a wealth-generating platform for all investors and financial institutions by bringing innovative and cutting-edge digital assets to the market.