FTX Adds Payoneer for Wider Global Creditor Refunds

- FTX selects Payoneer to expand refund options globally. - Several countries still face restrictions, sparking creditor frustrations. On June 11, 2025, CoinDesk reported that FTX named Payoneer as a new agent, which will handle global creditor refunds and aims to include underserved regions. According to a PRNewswire press release on June 10, 2025, FTX confirmed this decision. This move intends to expand repayment options and addresses restrictions in some countries that the other two distribution agents, BitGo and Kraken, previously did not service. Payoneer will facilitate distributions to creditors in 93 jurisdictions, including India, Indonesia, Japan, and several U.S. states such as New York, Washington, and Maine. The inclusion of Payoneer aims to improve distribution reach, offering access for creditors in various regions previously excluded from the refund process. However, Payoneer's selection has drawn criticism because major creditor markets, such as China, Russia, Ukraine, and Nigeria, remain ineligible. These markets account for significant proportions of total claims, a situation that has frustrated affected creditors who still cannot access their refunds through Payoneer. If creditors opt for Payoneer, FTX will send their cash distributions directly to the service, and Payoneer will then credit the creditors' selected bank accounts. By choosing Payoneer, these creditors forfeit their right to receive cash distributions directly from FTX. FTX has also warned creditors about potential phishing scams and advised them to exercise caution. The overall refund process, meanwhile, continues to face issues, including delays in verification and other administrative challenges, leading to continual complaints from creditors. According to CoinMarketCap, as of June 11, 12:00 UTC, Bitcoin (BTC) was trading at $25,643, and its 24-hour trading volume had increased by 1.2%.