The FTX Recovery Trust (FTX) and FTX Digital Markets Ltd. (FTX DM) today announced an agreement with Payoneer, a global financial technology company, to facilitate the distribution of recovered funds to retail customers. Payoneer will serve as the third distribution service provider for FTX and the second for FTX DM, joining existing partners BitGo and Kraken.
This collaboration aims to streamline the return of assets to customers in supported jurisdictions, adhering to the FTX Chapter 11 Plan of Reorganization confirmed by the U.S. Bankruptcy Court for the District of Delaware, and the FTX DM liquidation process in The Bahamas. Payoneer’s services will be available for distributions processed after May 30, 2025.
Customers opting for Payoneer as their distribution method will irrevocably elect to forgo direct “Cash Distributions” (in USD or equivalent) from FTX. Instead, they will direct FTX to pay their entitled funds directly to Payoneer, which will then credit the customer’s selected bank account with cash in their chosen currency. Customers with questions regarding fund disbursements are advised to contact their chosen distribution service provider directly.
To be eligible for a distribution on future dates, customers and creditors must complete several prerequisites before the distribution record date. These include: Logging into the FTX Customer Portal (https://claims.ftx.com), completing required Know Your Customer (KYC) verification, submitting necessary tax forms, and onboarding with one of FTX’s approved distribution service providers: BitGo, Kraken, or Payoneer. Instructions for onboarding will be provided on the FTX Customer Portal.
For transferred claims, distributions will only be made to the transferee holder of an allowed claim that is processed and reflected on the official register of claims as of future record dates, provided the 21-day notice period has lapsed without objection.
