Zaif has Completed the Handing Over of its Business to another Crypto Exchange—Fisco
According to a recent report, the business transfer agreement existing between Zaif virtual currency exchange and Fisco Cryptocurrency Exchange Co. Ltd (FCCE) is now completed. As a result of this, Zaif is now a property of Fisco.
Zaif Went for a Business Transfer Over Sales of Shares
The announcement which was made by Zaif Cryptocurrency Exchange Tech Bureau today made it known that it has officially handed over the operation of its business to FCCE.
According to a previous report, Fisco originally had plans to hold a major share in Zaif, but eventually, a business transfer agreement was reached instead.
As a result of this business transfer, all liabilities attached to Zaif is now being inherited by Fisco.
Just a few months ago, Zaif Cryptocurrency Exchange Tech Bureau announced that the exchange was hacked. The company’s inability to compensate its users has led to its seeking a business transfer. It was reported that Zaif reached out to Fisco during this period and then an agreement was reached.
In the announcement which was made today, Nov 23, 2018, Zaif has apologized to its customers over the September hack which brought the business to its knees and the subsequent business transfer arrangements.
The announcement stated that:
“Based on the business transfer agreement between us and the Fiscal Virtual Currency Exchange Co., Ltd., the business of the virtual currency exchange Zaif we operated has been transferred from our company to the Fiscal virtual currency exchange corporation I will inform you that it was done.”
Zaif to Respect its user’s Wishes
It is important to note that Zaif is required under its terms of service to inform all its clients of the business transfer, as well as to seek their consent before assigning their various account to a new operator.
Zaif made it known that it will do all its best to adhere to its “contractual responsibilities to customers who have not agreed to have their accounts transferred to Fisco.”
