FTX Japan K.K., a subsidiary of Sam Bankman-Fried’s failed crypto exchange, has announced that it will reopen withdrawals for its customers on Tuesday.
This makes it the first business of the FTX group to return money to clients.
The resumption of withdrawals marks a victory for Japan’s financial regulator, which has put in place strict rules to protect clients, including the segregation of assets.
FTX Japan may require some time to process withdrawals if it receives a large number of requests from its customers.
Clients can withdraw their assets from a platform called Liquid.
The exchange is up for sale as part of the US bankruptcy process and has drawn interest from at least 41 parties, according to a court filing.
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