Bitcoin exchange WazirX acquired by Binance

Friday 22 November 2019 10:50 CET | News

Cryptocurrency exchange Binance has acquired India-based Bitcoin exchange WazirX, in a significant move in the cryptocurrency ecosystem within the country.

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.

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Keywords: Binance, acquisition, India, Bitcoin, exchange, WazirX, cryptocurrency, regulation, P2P, transactions , USDT, Tether, Fiat, gateway
Categories: DeFi & Crypto & Web3
Countries: India
This article is part of category

DeFi & Crypto & Web3