Zhibao Signs LOI to Acquire On-Chain Trading Platform MeVX with 2M Users
ZBAO sits 32% above its 52-week low of $0.084 on light trading volume (0.2× avg).
Summary
Zhibao Technology has signed a non-binding letter of intent to acquire MeVX, a non-custodial multi-chain trading terminal focused on on-chain and meme assets. MeVX brings approximately 2 million users and $8 million in sticky deposits, with localized operations in Vietnam and expansion potential across Southeast Asia. The deal is subject to due diligence, regulatory approvals, and completion of Zhibao's De-Classification Restructuring, with a definitive agreement expected within 12 months. This marks a strategic pivot into crypto infrastructure for the InsurTech company, which recently closed a $154.7 million Bitcoin-denominated PIPE and is pursuing a 1-for-50 reverse split. The acquisition would add a consumer-facing crypto trading platform to Zhibao's portfolio, though the non-binding nature and lengthy timeline temper immediate impact.
At the time of this announcement, ZBAO was trading at $0.11 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $50.8M. The 52-week trading range was $0.08 to $1.34. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.