An Abu Dhabi-based crypto trading firm plans to bid for FTX Pay, the bankrupt payment unit of FTX.
New buyers of the sinking stock market
The UAE’s Abu Dhabi-based crypto trading firm Hayvn said it is considering acquiring FTX Pay. Hayvn executives see FTX Pay as a very viable business that matches the Hayvn Pay infrastructure. Crypto exchange FTX is reportedly planning to sell or reorganize its payments and subsidiaries.
Hayvn’s co-founder and CEO Christopher Flinos said that FTX Pay is valuable to Hayvn because of its relationships with major companies like Mastercard. It also reportedly has a solvency balance sheet and a better management team:
We are pleased to learn that some of the FTX business has solvency balance sheets, responsible management and valued franchises. We are open to meeting with their banker, Perella Weinberg, as soon as we get the court’s approval to proceed.
cryptocoin.comAs we have reported, the stock market filed for bankruptcy on November 11.
