FTX Partners with Payoneer for Customer Fund distribution
FTX has teamed up with Payoneer to help return funds to affected customers. Payoneer will act as an intermediary in the reimbursement process.
According to the press release, Payoneer will assist in distributing compensation to eligible retail customers. This service will be available for requests made after May 30, 2025. The company stated, “For transferred claims, distributions will only be made to the transferee holder of an allowed claim.”
Payoneer is the third service provider to work with FTX. It joins bitgo and Kraken in facilitating payments. This is part of the chapter 11 Plan of Reorganization, mandated by the U.S. Bankruptcy Court.
FTX also warned users about phishing emails and fake websites. After the proclamation,the price of FTX’s native token rose slightly by 1.8%, according to crypto.news.
Customers choosing Payoneer will receive funds via their selected bank account. The amount will be based on their entitled cash distributions.
To receive compensation, customers must log in to the claims portal, complete verification, submit tax forms, and choose a payment service provider.
Earlier, FTX announced the second round of distribution, covering around $5 billion for eligible creditors.
