The purchase follows the March announcement by Tesla that the electronic vehicle company would begin accepting bitcoin payments for its vehicles.
In Thailand, the company has seen 5-times growth in customer acquisition and 10-times growth in transaction volume and AUM since its summer 2020 launch.
NOVA Contemporary Gallery allows fine art lovers to purchase art with cryptocurrencies, while WasuthaGroup, the first distributor of Tesla vehicles in Thailand, sold its first Tesla using Zipmex to process the payment in bitcoin.
Known for its forward-thinking regulation of the cryptocurrency space, the country is paving the way for companies like Zipmex to flourish.
Holders can invest in it like a security, stake it in exchange for interest, use it to make payments, and take advantage of its loyalty benefits with merchants.