Bitcoin exchange WazirX acquired by Binance

Due to lack of a clear regulation, exchanges have been shutting down over the last couple of years. This move between the two companies marks the first major acquisition in the space, through which Binance is expected to foray into the Indian market. 

According to ET, WazirX launched its global operations earlier in 2019, as well as its peer-to-peer and crypto-to-crypto transactions. The company’s P2P engine will be integrated into the Binance Fiat Gateway platform in Q1 of 2020, allowing users to trade any digital asset available on Binance with the purchase of USDT or Tether, from the WazirX P2P market.