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FTX Japan now allows payout of customer funds

FTX customers in Japan can breathe a sigh of relief.

By Mike Hesp
• 1 min read
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FTX Japan now allows payout of customer funds

FTX customers in Japan can breathe a sigh of relief. The Japanese arm of the insolvent crypto exchange has reactivated the withdrawal function.

FTX now lets Japanese customers withdraw their funds. The insolvent exchange announced this in a press release. Concretely: "We are pleased to announce that withdrawal of fiat funds and crypto assets from FTX Japan will be possible again starting February 21 at 12:00 PM JST."

The process is being handled by the Japanese exchange Liquid, which was acquired by FTX just under a year ago. Customers will need to open an account there before funds can be transferred.

Unlike the parent company, FTX Japan kept customer funds separate from corporate funds. It submitted a recovery plan in December under orders from the Japanese Financial Services Agency (FSA).

Customers from the Asian country of South Korea are faring worse. The crash of FTX had a major impact on Korean users.

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