• Australian BNPL provider Zip has announced that it will exit the Singapore market, shut down its business lending unit, and deprioritize cryptocurrency offerings to reduce cash burn. 

• The company is also considering an impairment charge on its US and European businesses, Twisto, Spotti, and Quadpay, to reflect current market conditions. 

<ul><li>Zip states that its growth model is on hold to focus on its core markets Australia, New Zealand, and the US. The company also assures that the terminated merger with  Sezzle would accelerate its plans to achieve profitability.</ul>   <ul><li>Analyst QuickTake: Zip struck a partnership with mobile wallet provider Singtel Dash, owned by telecommunication company Singtel, to expand into Singapore earlier this year . The shutdown of the Singapore business unit was inevitable with the termination of this agreement late last month . Zip is looking to exit the UK market according to reports from SkyNews last week .</ul>