Binance Acquires Indian Crypto Exchange Wazirx

Nischal Shetty, current CEO of Wazirx, will continue to serve as CEO.

One of largest cryptocurrency exchange in India Wazirx, has been acquired by Binance, Binance is one of the famous and largest cryptocurrency exchange in the world. Wazirx is India’s first cryptocurrency exchange to be acquired by any international exchange. Binance confirmed this news with an announcement on Thursday.

According to WazirX CEO Nischal Shetty,

“The next phase of mass adoption for Crypto will arise from developing nations around the world. India with more than a billion people is primed for massive crypto adoption and this acquisition by Binance gives us the opportunity to not only cater to India but every developing nation where fiat on-ramps have to be built. The acquisition is yet another step towards achieving our shared mission with Binance of decentralising the world,”


Shetty also confirmed that he will continue to serve as the CEO of Wazirx,

We’ll continue to function the way we have been. The only thing that changes is that we now get more support through Binance’s global ecosystem which is great for crypto in general.

According to Binance CEO CZ, "The young demographic in India give an edge to adopt and build on new financial technologies, and I believe this will play a vital role in making India a global blockchain innovation centre to also spur cryptocurrency adoption throughout the larger public in the country."


He also added,

"The acquisition of WazirX shows our commitment and dedication to the Indian people and strengthen the blockchain ecosystem in India as well as another step forward in achieving the freedom of money.”

Wazirx was launched in 2018 and it is India's largest and one of the trusted cryptocurrency exchange with more than 200,000 app downloads with an average rating of 4.4. WazirX also launched the world's first auto-matching P2P (Peer-to-Peer) engine to help traders to convert Indian Rupees to crypto and vice versa. #Crypto #Binance #WazirX #CryptoNews