FTX Adds Payoneer as Third Distribution Service Provider for Customer Recoveries Starting May 2025
FTX Recovery Trust and FTX Digital Markets Ltd. (FTX DM) have entered into an agreement with Payoneer, a global fintech company, to serve as a new distribution service provider to help process recoveries for customers under the approved FTX Chapter 11 Plan of Reorganization and the Bahamian liquidation process. Distributions through Payoneer will begin after May 30, 2025.
Payoneer Joins BitGo and Kraken
- Payoneer becomes the third official provider alongside BitGo and Kraken for U.S. customers.
- Will serve as the second provider for FTX DM customers under Bahamian liquidation.
Cash Distribution Terms
- Customers selecting Payoneer waive their right to receive direct U.S. dollar payments from FTX.
- Instead, FTX pays Payoneer, which then credits the customer’s chosen account in their selected currency.
- This election is irrevocable once Payoneer is chosen during the onboarding process.
Steps Required to Receive Distributions
To be eligible for future payouts:
- Login to the FTX Customer Portal: claims.ftx.com
- Complete KYC verification.
- Submit required tax documents.
- Select and onboard with BitGo, Kraken, or Payoneer via FTX’s portal.
Note: Transferred claims must be reflected on the official register maintained by the claims agent.
Phishing Alert
FTX warns users to avoid:
- Fake emails or fraudulent websites mimicking claims.ftx.com
- Any request to connect wallets — FTX will never ask for this.
More Information
- Bankruptcy docs: cases.ra.kroll.com/FTX
- Distribution FAQs: FTX Support
Official Advisory Team
- Legal Counsel: Sullivan & Cromwell LLP
- Financial Advisor: Alvarez & Marsal
- Investment Banker: Perella Weinberg Partners
- Special Counsel: Quinn Emanuel
- Delaware Counsel: Landis Rath & Cobb LLP
