FTX Japan to allow withdrawals via local exchange

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FTX Japan is set to allow customers to access their tokens through Liquid Japan, a licensed local crypto exchange.

Account holders of FTX Japan who already have access to Liquid Japan can link their accounts to transfer assets from the former to the latter. Crypto and fiat assets can then be withdrawn from Liquid Japan.

Those who don’t have access to Liquid Japan can open an account and still link their accounts to FTX Japan and withdraw their assets.

FTX Japan reportedly had about US$138 million in assets when it closed in November 2022, just five months after its launch in the country. The company had entered Japan through Quoine Corporation, which it acquired and renamed to FTX Japan.

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After South Korea and Singapore, Japan was the hardest hit by the collapse of FTX, according to an analysis by CoinGecko.