FTX Japan to Start Payouts to Customers in February

Article reading time:
1 min.

The Japanese division of the FTX exchange, which is in the process of bankruptcy, said that in February, the company's customers will be able to receive their funds.

FTX Japan sent notifications to its customers aboutthat on the company's platform they will be able to verify their bank accounts and transfer funds to the Liquid payment platform. This will be the preliminary steps for withdrawing funds.

“We are confident that we will be able to launch withdrawals inthis month and will try to do it as soon as possible. Sometimes we work 7 days a week and stay late into the night to make withdrawals transparent, fair and accurate,” said Seth Melamed, COO of FTX Japan.

In early February, FTX Japan beganbeta testing the refund process to streamline and simplify it for its 35,000 users. A full withdrawal of deposits will begin after the company has enough data on the balance transfer and the process is approved by regulators.

Recall that the FTX exchange owned more than 130divisions and affiliated companies around the world. In January, a US court approved the sale of four companies, including FTX Japan. It is possible that the Monex broker will buy the Japanese stock exchange.