April 30, 2024
By Anjali Kochhar
As part of its effort to maintain transparency and strengthen its adherence to regulations, the top cryptocurrency exchange in India, WazirX, has published its much anticipated sixth transparency report, covering the months of October 2023 through March 2024. The report demonstrates WazirX’s steadfast commitment to promoting a safe virtual digital asset (VDA) trading platform while negotiating regulatory framework complexities.
Marked by a surge in trading activity, WazirX recorded a remarkable 217% increase in trading volume compared to the previous six months. This spike underscores the burgeoning interest in cryptocurrencies among Indian investors. Moreover, the platform witnessed a staggering 122% surge in new user registrations, reflecting the growing popularity of digital assets in the country.
March 2024 emerged as a watershed moment for WazirX, with trading volume peaking at over $400 million, while December 2023 witnessed unprecedented sign-up rates. Bolstering its offerings, WazirX expanded its repertoire by adding 16 new tokens and 30 additional trading pairs, providing users with an extensive array of investment opportunities.
Notably, prioritising customer satisfaction, WazirX’s dedicated support team diligently addressed over 158,900 inquiries during the reporting period. Furthermore, the company exhibited unwavering compliance with regulatory mandates, promptly responding to 1,700 requests from Indian and foreign law enforcement agencies, boasting an impressive 100% compliance rate with a swift turnaround time of just 22 minutes.
In a bid to enhance crypto literacy and bolster security measures, WazirX conducted training sessions for officials from the Joint Cyber Crime Coordination Teams (JCCT) Northeast, Assam Police, and I4C MHA, shedding light on the intricacies of crypto security.
As a proactive member of the Bharat Web3 Association, WazirX actively contributed to policy discussions aimed at promoting the adoption of Web3 and blockchain technologies. Additionally, the exchange’s participation in the International Startup Summit underscored its commitment to fostering innovation and collaboration within the ecosystem.
Collaborative efforts with industry partners such as TaxNodes and GoSats culminated in a focused workshop on Crypto Trading at IIT Bombay’s Techfest, empowering aspiring youth with the knowledge and tools to navigate the crypto landscape adeptly. Moreover, partnerships with TOKEN and HTX DAO facilitated Learn and Earn campaigns, furthering the exchange’s mission of fostering crypto education and engagement.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
