ADGM-licensed Hayvn plans to make a bid for failed crypto exchange FTX's payment operations

Dubai: An Abu Dhabi Global Market (ADGM) licensed crypto currency company Hayvn is 'considering' making a bid for the payments operations of FTX, the cryptocurrency exchange that collapsed spectacularly, and which has led to more heartburn for investors in alt-currencies.

FTX, saddled with multi-billion dollar exposures, will attempt to sell or reorganise many of its business - 'it is the FTX Pay business that is appealing to Hayvn as a bolt-on to its increasingly dominant Hayvn Pay infrastructure,' the company said in a statement.

“We are pleased to learn that some of the FTX business have solvent balance-sheets, responsible management, and valuable franchises," said Christopher Flinos, CEO at Hayvn. "Our goal is to ensure that within two years, 75 per cent of the world’s ecommerce and point-of-sale transactions have a cryptocurrency payment option available for the customer.

“We are open to a discussion with their bankers Perella Weinberg as soon as they have the court's approval to proceed. We will continue to grow our Hayvn Pay business both organically and through acquisition.”

"Acquiring FTX Pay will help solidify our position as the global leader in cryptocurrency payment solutions.”

Hayvn Pay is a regulated financial network for blockchain based currencies. Earlier this week it announced a strategic partnership with WooCommerce, the open source, ecommerce platform. The agreement makes Hayvn PAY available via a plug-in, giving access to WooCommerce merchants.