21/11/19 04:00 UTC-4

Binance acquires WazirX Indian cryptocurrency exchange

ExchangesWazirX is now owned by Binance
WazirX is now owned by Binance

Binance, the world's largest cryptocurrency exchange in terms of tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
volume, has acquired the Indian WazirX exchange to serve more than 1 billion people in the country. The WazirX exchange reports.  


Binance acquires the Indian exchange

WazirX CEO Nischal Shetty said Binance now owns 100% of WazirX, but the exact amount of the purchase has not been disclosed. It is reported that the price is in the range of 5 to 10 million dollars.

The acquisition will allow WazirX to expand in more countries and solve the problem of crypto-conversion for users, now they will be able to buy and sell cryptocurrencies using the local Indian rupee (INR), starting on November 25th.

Cryptocurrency news reports that with this acquisition, Binance will enter the young Indian market.

Interesting in the section: Binance did not get into the top leading exchanges of the CryptoCompare site

  • Binance's immediate plans include integrating the WazirX peer-to-peer automatic matching mechanism into its fiat gateway platform to provide easy access to cryptocurrency for the people of India.

See also: "The crypto-love of the twins: they bought each other's startups"

#exchanges #India #cryptocurrency #Binance #WazirX

Editor: Yuliya Soroka