FTX Japan has confirmed that its customers will be able to withdraw their funds starting an unspecified date in February.
The withdrawal will be made through Liquid, a Japanese crypto exchange acquired by FTX in February 2022. The reason for the delay in making the funds available was due to “technical issues,” according to senior officials at Japan’s Financial Services Agency.
Despite FTX’s Chapter 11 filing in the US, there was “no objection at all” to the withdrawal plan.
Japan is known for having robust and defined regulations around cryptocurrency and exchanges and FTX Japan was in a relatively good position to survive its parent company’s implosion, though it was not immune.
The unit is being auctioned as part of the US bankruptcy process, with more than 40 parties registering their interest.
