AZA Finance Issues Correction to Erroneous Inclusion in FTX Chapter 11 Bankruptcy Filing
12.11.2022 02:35:00 EET | Business Wire | Press release
Statement from Elizabeth Rossiello , CEO and founder of AZA Finance , on the FTX Chapter 11 Bankruptcy filing:
“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.
AZA Finance is a global payments and foreign exchange fintech. Founded in 2013 as BitPesa, we empower companies worldwide and within Africa to move money, exchange currencies, make payments and settle easily across all major African and G20 currencies (including some digital currencies). AZA Finance is licensed in multiple jurisdictions as a payments provider. We do not hold customer funds and never have. Less than 10% of our transactions across all of our entities are via digital currencies.
Earlier this year, we announced a commercial partnership with FTX Africa to expand web3 in Africa by helping them build regulated, safe and low-cost payments rails, as well as other discussed but not-yet-launched initiatives such as African artist NFT collections.
In doing so, FTX Africa became a customer of AZA Finance, first utilising our stable and efficient infrastructure to pay out to a small number of customers in Africa. However, neither FTX nor any of its associated entities own or control AZA Finance or our entities, including BTC Africa SA. Our entities are not part of the FTX bankruptcy. In its disorganised haste, FTX erroneously listed our entities in their bankruptcy filing.
For additional clarity, our entities that are not part of the FTX bankruptcy include:
- 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
These entities are not impacted by the FTX bankruptcy in any way. AZA Finance, our entities and our businesses remain independent and healthy.
AZA Finance is and was one of the first Fintech companies to launch from Nairobi, Kenya - and the first foreign currency exchange globally to also trade crypto to mobile money. Volatility is not something that surprises or affects us. We are sad to see a major brand fail, and we urge all fintechs and financial institutions to adhere to global regulation and industry best practices.”
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221111005572/en/
Contact information
Rachel Pipan, Communications
rachel@azafinance.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
The Empire State Building Celebrates 95 Years as the ‘World’s Most Famous Building’30.4.2026 23:42:00 EEST | Press release
The Empire State Building (ESB), the “World’s Most Famous Building,” will celebrate its 95th anniversary on May 1, 2026, with new offers at the Empire State Building Observation Deck, a special birthday tower lighting display, and a slate of celebrations to honor its legacy and future. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430693323/en/ The Empire State Building Celebrates 95 Years as the ‘World’s Most Famous Building’ “The Empire State Building celebrates its 95th anniversary, still the ‘World’s Most Famous Building,’ a modernized, sustainability leader as technologically advanced today as the day she was completed, and the winner of #1 Top Attraction in the United States in Tripadvisor’s Travelers’ Choice Awards for 2026,” said Anthony E. Malkin, chairman and CEO of Empire State Realty Trust. Anniversary Offerings and Experiences To mark its 95th anniversary, the Empire State Building will debut new experiences
MRM Health’s Lead Candidate MH002 Granted Fast Track Designation by U.S. FDA for the Treatment of Mild-to-Moderate Ulcerative Colitis30.4.2026 23:17:00 EEST | Press release
MRM Health, a clinical-stage biopharmaceutical company developing therapeutics for immune-mediated diseases, which unlock the power of the microbiome to restore immune balance, today announced that MH002, the Company’s lead rationally designed Live Biotherapeutic Product (LBP) candidate, has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for the treatment of mild-to-moderate ulcerative colitis (UC). MH002 today is the most advanced LBP targeting inflammatory bowel disease (IBD)-specific mechanisms and is composed of a rationally designed microbial consortium of six well-characterized commensal strains. The FDA’s Fast Track is a process designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need. The purpose is to get important drugs to patients earlier. Fast Track designation enables frequent communication with the FDA to discuss the drug's development plan and ensure collection o
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results30.4.2026 23:01:00 EEST | Press release
Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced results for the fiscal first quarter ended March 31, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430598629/en/ Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results “Our first quarter results reflect continued growth and accelerating momentum in our core Rimini Support™ business as organizations turn to the proven Rimini Smart Path™ to execute their global ERP and operational transaction processes faster, better and cheaper with more agility and speed to value – all within existing budgets,” said Seth Ravin, president and CEO, Rimini Street. “We help organizations avoid unnecessary, costly and risky ERP and other enterprise software upg
OpenAI and Yubico Partner to Bring Custom Phishing-Resistant YubiKeys to OpenAI Users30.4.2026 20:13:00 EEST | Press release
Yubico (NASDAQ STOCKHOLM: YUBICO), the pioneer of phishing-resistant authentication and creator of the YubiKey, the gold standard of security keys, today announced an industry-first collaboration with OpenAI, the creator of ChatGPT. Beginning today, people can purchase a new 2-pack set of custom YubiKeys as part of OpenAI’s Advanced Account Security program – enabling them to secure their ChatGPT accounts with security keys, containing the strongest hardware-backed passkeys. Specifically designed for security-conscious users who are at increased risk of targeted digital attacks, the set includes a YubiKey C NFC for tap-to-authenticate on mobile, and a low profile YubiKey C Nano that stays in a port for everyday laptop use – both packed with modern authentication features for the highest level of protection. With OpenAI already using YubiKeys internally to protect their employees and infrastructure from sophisticated phishing, they are now bringing the same level of account security to
rhode Continues Its Global Retail Expansion Into Sephora Europe30.4.2026 19:00:00 EEST | Press release
rhode, the beauty brand founded by Hailey Rhode Bieber, will be available at Sephora online and in most stores across Europe beginning this September, following its 2025 rollout with Sephora in the U.S., Canada, and the U.K. This expansion into Sephora Europe increases global access to rhode through physical retail, marking a pivotal next stage for the brand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430569580/en/ rhode continues its global retail expansion into Sephora Europe. rhode’s collection of high-performance, skin-focused products saw strong performance in Sephora U.S. and Canada as the biggest brand launch in the retailer’s history in North America. When launched in November 2025 in the U.K., rhode was also the largest brand launch in Sephora U.K.’s history. “I’m so excited to continue our partnership with Sephora as we launch into retail in Europe, bringing rhode to more of our customers in a physical and I
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom