Crypto exchange platform WazirX recorded its highest trading volume of over $400 million in March 2024 and its highest sign-up numbers in December 2023. WazirX released its sixth transparency report on Tuesday for the period October 2023 to March 2024. It said that trading volume increased by 217% compared to the previous six months and the number of new user registrations increased by 122%. WazirX said in its report that it added 16 new tokens and 30 new trading pairs to its offering. The company also responded to 1,700 queries from Indian and foreign law enforcement agencies and said it required a turnaround time of 22 minutes to respond to law enforcement queries.
Rajagopal Menon, Vice President of WazirX, said: “We at WazirX are committed to protecting users while encouraging innovation in the Indian virtual digital asset (VDA) ecosystem. By proactively engaging with regulators, law enforcement agencies, industry associations and other stakeholders, we are paving the way for positive regulations that can unlock the transformative potential of blockchain and crypto technologies across all sectors.”
He added that in the coming months, the exchange will continue to put in place robust security protocols, work with policymakers to create an appropriate regulatory framework and promote crypto literacy.
Since the beginning of this year, Indian crypto exchanges have been witnessing record-breaking trading volumes and also user registrations. Recently, the Bitcoin halving marked a major milestone in the crypto world.
WazirX is India’s largest crypto exchange platform. Since its inception in 2018, WazirX has become the most trusted exchange in the Indian crypto market. It is part of the Binance group, the world’s largest crypto exchange serving users in 180 countries. WazirX and Binance recently announced a $50 million Blockchain India Fund to realise their vision of making crypto accessible to India.
With a volume of $5.4 billion per month and growing exponentially, WazirX is seeing a steep rise in the number of new users and trading activity. With 6 million registered users, WazirX’s growth has just begun. WazirX and Nischal Shetty, the pioneers of the #IndiaWantsCrypto movement, has a social media reach of more than 5 million.
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