FTX Japan Plans to Enable Customer Withdrawals in Mid-February

• FTX Japan, the Japanese division of bankrupt crypto exchange, plans to re-enable customers‘ withdrawals in mid-February 2021.
• The exchange is working with Liquid, a Japanese platform acquired by FTX, to facilitate the refund process to users.
• FTX Japan has pledged to build a new system different from the one used by its parent company to enable customers to access their funds.

FTX Japan, the Japanese division of the bankrupt crypto exchange, has recently revealed plans to resume customer withdrawals from the platform in mid-February 2021. The announcement comes after the exchange suspended its services last month due to the bankruptcy filing of its parent company.

In order to ensure that customers can access their funds, FTX Japan has pledged to build a new system different from the one used by its parent company. To facilitate the refund process, the exchange is now working with Liquid, a Japanese platform acquired by FTX earlier this year as part of its Asian expansion.

In a recent update, the exchange stated that it is “working with Liquid to build a new system and have Liquid provide assistance to our customers in order to ensure that they can receive their funds as soon as possible.” The exchange also mentioned that it plans to shut down its business operations once users withdraw their assets from the platform.

However, customers will not be able to access their funds until the new system is built and made available for use. Until then, FTX Japan has advised its customers to “not attempt to access their funds or withdraw their assets from the platform.” The exchange also promised to provide more updates as soon as the new system is completed.

Overall, the news of FTX Japan’s plan to resume customer withdrawals is a welcome development for customers who have been waiting for their funds since the platform suspended its services last month. While the exact timeline of when the new system will be completed is still uncertain, the exchange is making sure to provide all the necessary information to customers to ensure a smooth transition.