AZA Finance Issues Correction to Erroneous Inclusion in FTX Chapter 11 Bankruptcy Filing
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
SimpliStor™ Solid State Data Recorder Delivers High-Speed, Radiation-Tolerant Storage for Next-Generation Space Missions20.11.2025 14:00:00 EET | Press release
Frontgrade™ Technologies, a leading provider of high-reliability electronic solutions for space and national security missions, today announced the release of the SimpliStor™ Solid State Data Recorder (SSDR), a next-generation, radiation-tolerant data recorder that gives satellite operators, system integrators, and spacecraft designers a faster, smarter, and more resilient way to capture and protect mission-critical information in orbit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251120514203/en/ Frontgrade's SimpiStor™ 2.5TB Solid-State Data Recorder High-Throughput Performance SimpliStor delivers 2.5 terabytes of storage and 10Gbps throughput in a compact 3U SpaceVPX package, combining exceptional performance with low power consumption. Users can record more data in less time, with latency under 100 microseconds and continuous “store-to-full” recording, ensuring no data loss during peak operations. A 33-minute continuo
Compass Pathways to Participate in Two Investor Conferences in December20.11.2025 13:30:00 EET | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will participate in the following December investor conferences: 8th Annual Evercore Healthcare Conference – Coral Gables, FL: Fireside chat at 10:00am ET on December 2, 2025 Piper Sandler 37th Annual Healthcare Conference – New York, NY: Fireside chat at 1:30pm ET on December 3, 2025 A live audio webcast of these events will be accessible from the “Events” page of the Investors section of the Compass website. A replay of the webcast will be accessible for 30 days following each event. About Compass Pathways Compass Pathways plc (Nasdaq: CMPS) is a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. We are motivated by the need to find better ways to help and empower people with serious mental health conditions who are not helped by existing treatment
NIQ Achieves Certification as Google Meridian Partner20.11.2025 13:00:00 EET | Press release
NIQ, a leading consumer intelligence company, is proud to announce its certification as a Google Meridian partner, enabling NIQ to utilize Google’s open-source marketing mix models to measure marketing impact for advertisers. This achievement underscores NIQ’s commitment to delivering transparent and actionable outcome measurement solutions that help advertisers evaluate and optimize their marketing investments worldwide. Google's Meridian is an open-source Marketing Mix Model (MMM) designed to help businesses measure marketing effectiveness and optimize ad budgets across various media channels. By joining a select group of certified partners, NIQ is collaborating with Google to advance outcome measurement standards and introduce new innovations that complement NIQ’s proprietary MMM solution - helping make high-quality measurement more accessible to marketers everywhere. New Meridian innovations include the enhancement of search measurement by accounting for organic search volume and i
BeOne Medicines Showcases Leadership in B-cell Malignancies at ASH 202520.11.2025 13:00:00 EET | Press release
BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, advances its vision to become the world’s leading oncology company with extensive new data from its differentiated hematology portfolio at the 67th American Society of Hematology (ASH) Annual Meeting and Exposition in Orlando, Florida, December 6-9. Nearly 50 abstracts have been accepted, including six oral presentations, featuring the company’s three transformative approved and investigational hematology assets – BTK inhibitor BRUKINSA® (zanubrutinib), BCL2 inhibitor sonrotoclax, and BTK degrader BGB-16673. Key presentations include: SEQUOIA:BRUKINSA demonstrated sustained overall survival (84%; 88% after COVID adjustment) and landmark progression-free survival (PFS) superiority vs bendamustine + rituximab with an estimated 74% PFS at 6 years in treatment-naïve chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) (Poster Presentation: 2129) ALPINE: Post-hoc analysis from Phase 3 st
ZKB in Switzerland Completes ISO 20022 Migration Using Smartstream for Reconciliations20.11.2025 12:40:00 EET | Press release
Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announces, Zürcher Kantonalbank (ZKB), the largest cantonal bank in Switzerland, has successfully completed its ISO 20022 migration project for reporting messages, now live with Corona MX - part of the Smart Reconciliations solutions suite. This milestone marks a significant achievement in ZKB’s digital transformation journey, as it moves to the new messaging standard, ahead of the global SWIFT migration deadline. Schmitz Wolfgang, Project Manager for ISO 20022, ZKB, states: "It has been a smooth and straightforward process working in partnership with Smartstream. The migration was executed with precision and foresight, ensuring we were fully prepared and operational well before the industry-wide ISO 20022 cutover. The solution is now live and in full production”. As a trusted partner of Smartstream for over 40 years, the bank leveraged the advanced capabilities of Corona t
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