AZA Finance Issues Correction to Erroneous Inclusion in FTX Chapter 11 Bankruptcy Filing

Statement from Elizabeth Rossiello, CEO and founding father of AZA Finance, on the FTX Chapter 11 Bankruptcy submitting:

“I used to be shocked and upset to see that FTX named BTC Africa S.A. and different AZA Finance entities in its Chapter 11 chapter submitting as we speak. To be clear: AZA Finance entities are usually not affected by the FTX chapter, and we’re taking steps to right the inaccurate courtroom filings.

AZA Finance is a worldwide funds and international trade fintech. Founded in 2013 as BitPesa, we empower corporations worldwide and inside Africa to transfer cash, trade currencies, make funds and settle simply throughout all main African and G20 currencies (together with some digital currencies). AZA Finance is licensed in a number of jurisdictions as a funds supplier. We don’t maintain buyer funds and by no means have. Less than 10% of our transactions throughout all of our entities are through digital currencies.

Earlier this 12 months, we introduced a business partnership with FTX Africa to increase web3 in Africa by serving to them construct regulated, protected and low-cost funds rails, in addition to different mentioned however not-yet-launched initiatives reminiscent of African artist NFT collections.

In doing so, FTX Africa turned a buyer of AZA Finance, first utilising our secure and environment friendly infrastructure to pay out to a small variety of prospects in Africa. However, neither FTX nor any of its related entities personal or management AZA Finance or our entities, together with BTC Africa SA. Our entities are usually not a part of the FTX chapter. In its disorganised haste, FTX erroneously listed our entities in their chapter submitting.

For extra readability, our entities which can be not a part of the FTX chapter embody:

 

(*11*)

These entities are usually not impacted by the FTX chapter in any method. AZA Finance, our entities and our companies stay unbiased and wholesome.

AZA Finance is and was one of many first Fintech corporations to launch from Nairobi, Kenya – and the primary international forex trade globally to additionally commerce crypto to cell cash. Volatility will not be one thing that surprises or impacts us. We are unhappy to see a significant model fail, and we urge all fintechs and monetary establishments to adhere to international regulation and business greatest practices.”

View supply model on businesswire.com: https://www.businesswire.com/news/home/20221111005572/en/