FTX Japan, a subsidiary of the FTX exchange, which is currently undergoing bankruptcy proceedings, has announced that its customers will be able to receive their funds in February.
The exchange has sent notifications to its customers, informing them that they can now verify their bank accounts and transfer their funds to the Liquid payment platform on FTX Japan’s platform.
This is the initial step in the process of withdrawing funds. The company has expressed confidence that it will be able to launch withdrawals this month and is working hard to ensure that the process is transparent, fair, and accurate.
According to Seth Melamed, COO of FTX Japan, the company has been working tirelessly, sometimes even working seven days a week and staying late into the night, to streamline and simplify the refund process for its 35,000 users. In early February, FTX Japan began beta testing the refund process, and a full withdrawal of deposits will commence once the company has sufficient data on the balance transfer, and the process is approved by regulators.
It is important to note that FTX exchange has over 130 divisions and affiliated companies worldwide, and in January, a US court authorized the sale of four companies, including FTX Japan. It is rumored that the Japanese stock exchange may be acquired by Monex broker.