FTX investors are still grappling with uncertainty over the fate of their assets, which are stored on the bankrupt platform. However, European customers have received some relief as FTX EU, the European division of the crypto exchange, has launched a new website that enables users to submit withdrawal requests for their funds.
According to a new report, the Cyprus Securities and Exchange Commission (CySE) has approved the new domain name, https://ftxeurope.eu/, which will only be used for balance withdrawal. No products or services will be offered through the new website.
FTX EU was established in March 2022, almost seven months before the SBF-led FTX Group and its 130 affiliated companies, including FTX EU, filed for bankruptcy.
The platform was created to provide company products to European clients through a licensed investment firm across the European economic area, with headquarters in Switzerland. The Cyprus watchdogs ordered the division to cease operations on November 9th, two days before the fateful event.
Since the platform operated for only a brief period, the number of users affected by the fallout is expected to be significantly lower than in other countries.
FTX Japan, another subsidiary, has also announced the resumption of the withdrawal function for customers. While the new domain has been authorized, the www.ftx.com/eu website remains unresponsive.
FTX EU has confirmed that the new website will only be used for FTX EU LTD clients to claim their FIAT balances, and no services or products will be offered via this website.