Pan African fintech and crypto payments service, AZA Finance, has dismissed the inclusion of its entities in the FTX International Bankruptcy filing revealed on November 11, 2022.
AZA Finance, our entities and our businesses remain independent and healthy. We are taking steps to correct the erroneous court filings regarding @FTX_Official.
Please find the full statement from our CEO and founder@e_rossiello here: https://t.co/dVxj68zPvV#Bitpesa #E4F #FTX pic.twitter.com/uGljUMfQf0— AZA Finance (@aza_africa) November 11, 2022
FTX had initially included 17 African entities as part of its Bankruptcy filing but later indicating that only companies they control are included. These include Bitvo inc, B.T.C Africa S.A, and their subsidiaries.
The list of 300+ entities includes FTX EMEA Ltd. and 16 more African entities:
- FTX EMEA Ltd.
- B Payment Services Nigeria
- B for Transfer Egypt
- BitPesa Kenya Ltd
- BitPesa RDC SARL
- BitPesa Senegal Ltd
- BitPesa South Africa
- BitPesa Tanzania Ltd
- BitPesa Uganda Ltd.
- BT Payment Services Ghana
- BT Payment Services South Africa
- BT Payments Uganda
- BT Pesa Nigeria Ltd
- BTC Africa S.A.
- BTLS Limited Tanzania
- Exchange 4 Free Seychellen
- Exchange 4Free South Africa Br.
Many of these entities, including B.T.C Africa S.A, are associated with AZA Finance, a payments provider FTX tapped to expand to more African users. In March 2022, the two firms announced a partnership to expand the adoption of Web3 and cryptocurrencies in Africa.
Elizabeth Rossiello, CEO and founder of AZA Finance, on the FTX Chapter 11 Bankruptcy filing said:
“I was shocked and disappointed to see that FTX named BTC Africa S.A. and other AZA Finance entities in its Chapter 11 bankruptcy filing today. To be clear, AZA Finance entities are not affected by the FTX bankruptcy, and we are taking steps to correct the erroneous court filings.
According to AZA Finance, FTX is its customer, not its owner, and has no control over its operations.
“Our entities are not part of the FTX bankruptcy. In its disorganized haste, FTX erroneously listed our entities in their bankruptcy filing.”
AZA Finance also provided a list of entities that are not affected by FTX bankruptcy, which includes:
- B Transfer Services Limited UK
- Exchange4Free Limited UK
- BTC Africa SA
- BT Payment Services Ghana Limited
- BT Payment Services Nigeria Limited
- BT Payment Services Uganda Limited/B Transfer Services
- BT Payment Services South Africa Pty
- TransferZero
- B For Transfer Egypt
- B Transfer Services Ltd UAE
- BitPesa Kenya Ltd
- BitPesa Senegal Ltd
- BitPesa South Africa
- BitPesa Tanzania Ltd
- BitPesa Uganda Ltd
- BitPesa RDC SARL
- BTPesa Nigeria Limited
- BTSL Limited Tanzania
- Exchange4Free Seychellen
- Exchange4Free Australia Br.
- Exchange4Free Swiss Br.
- Exchange4Free SouthAfrica Br.
- FinFax Company Limited
In March 2022, FTX and AZA Finance said they would partner to expand Web3 in Africa in 5 key ways:
- Connect African markets to the global Web3 economy by building vital infrastructure
- Create pathways for African users to participate and learn about the Web3 economy including educational resources & networking opportunities
- Make it easier than ever to deposit and pay out in African currencies on FTX.com, including mobile money and local bank account integrations
- Launch African currency and digital currency trading pairs
- Onboard African NFTs and artists to the FTX NFT marketplace
You can see a copy of the FTX filing here.
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