Open Exchange is now offering trading of bankruptcy claims held by customers of FTX and Celsius. The bankruptcy claims trading platform is offering immediate liquidity to stranded claims holders. OPNX recently partnered with Hong Kong Digital Asset Exchange and received a license in Spain. OPNX was co-founded by Su Zhu and Kyle Davies, the men behind the defunct crypto hedge fund Three Arrows Capital.
Open Exchange (OPNX) is buying bankruptcy claims held by customers of FTX and Celsius Network. OPNX rolled out claims for bankrupt crypto exchange FTX and crypto lender Celsius more than a month after it initially announced the feature for its users. The exchange’s native token OX gained more than 3% following the latest development. At the time of writing, the token was trading at $0.31.
Open Exchange Partners With Hong Kong Digital Asset Exchange
Open Exchange took to Twitter earlier today to announce that FTX bankruptcy claims were live on its claims trading platform. OPNX encouraged stranded FTX customers to onboard their bankruptcy claims and offered immediate conversion to its native token OX. This token can also be used to trade futures on the crypto exchange. FTX owes roughly $8 billion to its customers, while Celsius owes more than $4 billion. However, it is unlikely that all of these bankruptcy claims will reach OPNX.
“With claim tokenization, we are offering customers immediate liquidity, the chance to regain control over their funds and participate in market opportunities once again,”
Mark Lamb, Founder of Open Exchange
In other news, Open Exchange announced on July 13, 2023, that it had entered into a strategic partnership with Hong Kong Digital Asset Exchange, which allowed the exchange to become a licensed entity in Spain. The Cayman Island-registered firm was co-founded by Su Zhu and Kyle Davies, the men behind the defunct crypto hedge fund Three Arrows Capital. They partnered with CoinFlex co-founders Mark Lamb and Leslie Lamb to launch OPNX earlier this year.
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