FTX Estate Adds Payoneer as Creditor Payout Distributor

The FTX estate has announced the addition of Payoneer as a distribution service provider for creditor payouts, alongside BitGo and Kraken, effective June 10, 2025.

This addition allows creditors more flexibility in payout methods, which is important for accommodating varying user preferences and needs in the aftermath of the FTX bankruptcy.

Payoneer Joins BitGo and Kraken for Payouts

FTX estate’s official announcement adds Payoneer to its existing payout providers. This offers creditors more payout options amid ongoing bankruptcy proceedings, highlighting adoption of multi-rail distribution tactics. “Payoneer will be available as a distribution service provider to customers for distributions to be processed after May 30, 2025, joining BitGo and Kraken.”¹

The move to include Payoneer signifies enhanced access for creditors preferring fiat payments. FTX, BitGo, and Kraken already facilitate crypto payouts. The shift emphasizes user-centric adaptability post-FTX bankruptcy.

Flexible Payout Methods Meet Creditor Needs

This strategic inclusion addresses logistical obstacles some creditors face with crypto payouts. Market players view it as a pragmatic approach to accommodate diverse financial preferences within the FTX creditor community.

Financial experts predict this ensures smoother distribution processes and mitigates user dissatisfaction. Historical data from similar cases supports the efficiency of diverse payout methods in resolving bankruptcy disputes efficiently.

Lessons from Mt. Gox Bankruptcy Payouts

Comparable cases like Mt. Gox leveraged multiple payout options, setting a precedent for managing large-scale cryptocurrency bankruptcies effectively. Past instances demonstrate proven success in delivering diverse payment methods offering enhanced creditor satisfaction.

Kanalcoin experts anticipate this model’s efficacy, citing historical trends where alternative payout methods improved stakeholder outcomes. Insights emphasize leveraging such flexibility to streamline proceedings amid complex cryptocurrency legalities.

1: FTX Official Statement, Official Press Release, FTX

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