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The pan-African service for fintech and crypto-payments, aza finance, rejected the inclusion of its entities in the international filing ftx revealed on 11 November 2022.
Aza Finance, our business units and businesses remain independent and in good health. 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#Bitpesapic.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. In particular, they are bitvo inc., b.t c africa s.a and their subsidiaries.
300 entities are included in ftx emea ltd. and 16 more African entities:
- FTX EMEA Ltd.
- B Compensation 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 Get rid of the 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 financing entities are not impacted by bankruptcy ftx, and we are taking steps to correct incorrect court filings.
Aza finance says ftx is his client, not his owner, and has no control over his operations.
'Our entities do not belong to FTX bankruptcy. In its disorganized rush, the FTX mistakenly took our entities out of business."
AZA Finance has also provided a list of entities not affected by the FTX bankruptcy, including:
- 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 deposit and payment in African currencies more convenient than ever on FTX.com, including mobile money and local bank account integrations.
- Introducing pairs of African and digital currencies.
- Integration of ETFs and African artists in the FTX NFT market.
You can see a copy of the FTX filing
See also
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