FTX Japan to Resume Withdrawal Services for Customers after Temporary Suspension

Customers required to verify asset balance and transfer funds; withdrawal slowed due to high volume of requests.

FTX's Japanese division has announced that it will reinstate the option for its customers to withdraw their funds after temporarily halted its withdrawal service in November 2022 following the FTX collapse.

According to a press release, FTX Japan will resume its services for withdrawal of fiat currency and crypto assets of FTX Japan via the Liquid Japan web platform at 12:00 p.m. on February, 21, 2023.

To proceed with withdrawals, customers holding assets in their FTX Japan account will need to verify their asset balance and transfer the funds to their Liquid Japan account. Those who do not have a Liquid Japan account will need to create one before they can transfer their assets. All eligible customers have been sent an email containing the necessary steps for this procedure

The company also made clear that the withdrawal process may take a significant amount of time to complete due to the large number of withdrawal requests that they have received.

FTX Japan's decision to resume its withdrawal services follows a suspension that was directed by Japan's Financial Services Agency (FSA) in November 2022. Since the suspension, FTX Japan has been working towards resuming its services for its customers.