WazirX Doubles Active Traders, Futures Drive 243% Surge in Volumes

WazirX Sees Nearly 100% Growth in Monthly Trades per Active Trader, Since Restart

WazirX Marks One Year Since Operations Restart as Active Traders Double

WazirX, India’s leading crypto exchange, is marking the first anniversary of its restart following its restructuring. The platform has seen renewed trading activity, customer re-engagement and growth in Futures trading. Following the restart in October 2025, users received approximately 85% of their approved claims.

95% of trading activity post restart came from returning users. The number of active traders more than doubled between July and September. Repeat engagement improved over the same period of recovery, indicating a growing proportion of customers returning to the platform across multiple days.

Expanding the product experience with new trading capabilities and tools

Over the past year, WazirX has expanded its product offering to give customers more choice in how they trade, manage costs and access market information. WazirX ZERO introduced unlimited spot trades for ₹99 per month, allowing users to trade without per-trade trading fees. In May 2026, the exchange publicly launched crypto Futures, offering INR-margined perpetual contracts, lowest trading fees in the industry, and features such as Limit Orders, Take Profit, Stop Loss and Auto Margin Top-Up.

The platform subsequently added INR-settled perpetual contracts linked to global stocks, precious metals and energy markets. These additions give traders more ways to access different markets through the platform.

WazirX also introduced WazirX AI, a conversational trading copilot designed to help users research markets, understand their portfolios and navigate trading decisions with greater ease. By bringing market information, portfolio insights and trading assistance into a conversational interface, the tool aims to reduce the time and effort involved in researching and managing trades.

The exchange launched Taxlyst, a free, exchange-agnostic crypto tax-reporting platform that helps users organise their crypto transactions, calculate gains and losses, estimate tax liabilities and prepare reports for tax filing.

Strengthening security, transparency and customer service

Alongside product development, WazirX continued to strengthen its security infrastructure and customer support. The exchange uses BitGo for digital-asset custody and has integrated Fireblocks technology as part of its security architecture. It also introduced additional account-protection measures, including enhanced withdrawal safeguards, improved bot protection and stronger password-recovery workflows.

Compliance processes continued to evolve through improvements to KYC and re-KYC, a streamlined digital corporate-verification journey and updates to crypto deposit verification to support applicable Travel Rule requirements.

WazirX’s internal customer satisfaction metric reached over 90%, alongside improvements in first-response turnaround time. The exchange’s Guardians of Trust initiative brings together security updates, transparency efforts and user education as part of its ongoing focus on helping customers better understand platform safeguards and developments.

Futures trading emerges as a key growth driver

Futures has become an important contributor to WazirX’s trading activity. Following the public launch of WazirX Futures on 13 May 2026, monthly Futures trading volume grew 62x. Between July and September 2026, monthly Futures trading volume increased by approximately 243%. The growth reflects the expansion of the product from its initial rollout into a broader offering, supported by additional markets, trading features and access options.

Spot trading activity also showed signs of recovery, with monthly spot trading volume increasing by approximately 124%. Together, these trends reflect activity across both the exchange’s established spot offering and its newer Futures product.

Customer activity and engagement strengthen

Beyond trading volumes, WazirX recorded improvements in customer activity and repeat participation. The number of individual deposits increased by approximately 88%. The number of customers making deposits increased 78.9% between November 2025 and September 2026

The platform’s customer base also extended beyond India’s largest urban centres. WazirX ZERO has also shown encouraging engagement patterns. ZERO subscribers traded 13% more frequently and recorded more than five times the repeat engagement of pay-per-trade users.

Nischal Shetty, Founder of WazirX, said: “Restarting operations was an important first step, but rebuilding trust and improving the customer experience is an ongoing process. Over the past year, we have focused on giving customers more choice, introducing products that address their needs and strengthening the systems that support their trading experience. The progress made over the past year gives us a foundation to keep improving, while ensuring that the confidence of our customers remains central to what we build next.”

Progress on customer recovery

Alongside the revival of platform activity, WazirX has continued implementing the customer recovery framework established under its court-approved Scheme of Arrangement. On 8 January 2026, WazirX also distributed Recovery Tokens to eligible customers in accordance with the Scheme. These tokens represent users’ proportional entitlements and are intended to facilitate potential additional recoveries as assets are recovered and profits become available, subject to the Scheme’s terms.

The first year since the restart therefore reflects progress on two connected fronts - rebuilding customer participation through product development and service improvements, and continuing to implement the court-approved recovery framework. WazirX’s focus remains on improving the platform experience and continuing to deliver the best for its users.



About WazirX: WazirX is a leading Indian cryptocurrency exchange established in 2018, offering INR-based access to crypto through spot and perpetual futures markets. Users can buy and sell crypto in spot markets and trade INR-settled perpetual futures with features such as leverage, stop-loss and take-profit orders. WazirX has partnered with BitGo and integrated Fireblocks’ technology to strengthen digital asset security. WazirX supports INR deposits and withdrawals through verified bank accounts and is available on web, Android and iOS. The platform is registered as a Reporting Entity with the Financial Intelligence Unit, India (FIU-IND) and follows KYC and AML processes.

For more information about WazirX, please visit: https://wazirx.com/



Media Contact:

Shramana Chatterjee | WazirX | shramana.c@wazirx.com | 8130761374

Prutha Rupareliya | Adfactors PR | rupareliya.prutha@adfactorspr.com | 7977110300

India Tops Crypto Inflows: Surpasses Singapore and Australia in Centralized Exchange Activity

India has emerged as the top market in Central & Southeast Asia and Oceania for centralized crypto exchange (CEX) inflows, recording $88.4 billion between July 2025 and June 2026 — ahead of Singapore ($82.3B) and Australia ($79.3B) said the Chainalysis CSAO 2026 report. Despite a 14.7% contraction in its overall crypto economy, India’s dominance in CEX activity highlights strong investor demand even under heavy taxation.

According to Chainalysis, India saw $135 billion worth of crypto activity between July 2025 and June 2026, making it the third‑largest market in Central and Southeast Asia and Oceania (CSAO).

Singapore had the region’s biggest crypto economy in 2026, with $284 billion in activity — a jump of 55% from the year before. Much of this growth came from big institutions, with platform activity nearly doubling to $60 billion. The city’s crypto boom was broad‑based, including a 30% rise in centralized exchange (CEX) flows and a 69% rise in decentralized exchange (DEX) flows.

Australia ranked second at $173.1 billion. Its overall activity dipped 5.6% due to weaker DEX flows, but CEX and institutional trading still grew, showing the market’s resilience.

India saw one of the sharpest declines, with its crypto economy shrinking 14.7% during the global bear market. Even so, it remained a major player, recording $135 billion in activity. Importantly, India led the region in centralized exchange inflows, making it CSAO’s largest market by CEX activity.  

Comparative Snapshot of CEX Inflows (July 2025 – June 2026)

Country	CEX Inflows	Overall Crypto Economy	Notes
India	$88.4B	$135B	Largest CEX inflows despite 14.7% contraction
Singapore	$82.3B	$284B	Region’s largest overall crypto economy
Australia	$79.3B	$173.1B	Second-largest overall economy
Vietnam	$69.8B	Smaller	Fourth-ranked in CEX inflows

Regulatory & Market Context

• Taxation: India imposes a 30% flat tax on crypto income and 1% TDS on transactions. Losses cannot be offset against other income.
• Exchange dominance: Domestic Indian exchanges captured only 0.7% of local volume, far below the regional average (~7%). Most activity flows to offshore platforms due to tax burdens and compliance costs.
• Investor behavior: Crypto in India is primarily used as an investable asset — buying, holding, and selling — rather than payments or DeFi. Investors aged 35+ are increasingly entering the market, shifting from short-term speculation to accumulation.

Key Takeaways

• India leads CSAO in centralized exchange inflows, showing resilience despite regulatory hurdles.
• Singapore remains the largest overall crypto economy, but India’s CEX inflows surpass it.
• Australia ranks third, with strong overall activity but lower CEX inflows than India.
• Vietnam continues to punch above its weight, ranking fourth in inflows.

Risks & Implications

• Macroeconomic risk: Heavy reliance on offshore exchanges raises concerns about compliance, capital flight, and systemic exposure.
• Investor burden: High taxes discourage domestic exchange use, pushing volume abroad.
• Policy gap: India’s dominance in inflows contrasts with its lack of a dedicated crypto law, leaving investors exposed to regulatory uncertainty.

India Cracks Down on 15 Crypto Platforms

India’s Financial Intelligence Unit (FIU-IND) has issued non-compliance notices to 15 crypto platforms, including Weex, Blofin, DigiFinex, XT.com, and WhiteBIT, ordering takedown of their apps and URLs for operating illegally in India under the Prevention of Money Laundering Act (PMLA). This marks one of the most aggressive enforcement pushes since India expanded AML rules to cover virtual digital asset providers in 2023.

In March 2023, Virtual Digital Asset Service Providers (VDA SPs) were formally brought under India’s Anti‑Money Laundering and Counter‑Terrorist Financing (AML/CFT) framework through the Prevention of Money Laundering Act, 2002 (PMLA).

All VDA SPs serving Indian users — whether based offshore or onshore — and engaged in activities such as exchanging virtual assets with fiat currencies, transferring digital assets, safekeeping or administering them, or providing instruments that enable control over such assets, must register with FIU‑IND as Reporting Entities.

Under the PMLA and its associated rules, these entities are required to comply with obligations including registration, reporting, record‑keeping, and customer due diligence. Importantly, these requirements are activity‑based and apply regardless of whether the service provider has a physical presence in India.  

Key Details of the FIU Action

• Date of action: September 9–24, 2026
• Platforms targeted: Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, FixedFloat, WhiteBIT, Guardarian
• Legal basis: Section 13 of the Prevention of Money Laundering Act (PMLA), 2002
• Enforcement mechanism: Notices issued under the IT Act, 2000 and Intermediary Guidelines (2025) to block apps/URLs
• Reason: Operating in India without registering as reporting entities with FIU-IND, failing AML/CFT obligations

Context and Background

• AML expansion (March 2023): India brought Virtual Digital Asset Service Providers (VDA SPs) under AML rules
• Past enforcement:
  - 2023: FIU-IND targeted Binance, Kraken, KuCoin; Binance later paid ₹18.82 crore penalty
  - 2025: Notices issued to 25 offshore exchanges including Paxful and BitMex
• User workarounds: Indian users increasingly use stablecoin-to-gift card platforms abroad to bypass Indian exchanges

Risks for Indian Users

• Crypto & NFTs remain unregulated in India — no investor protection or recourse for losses
• Platforms named in the FIU list may face sudden service disruptions
• Offshore exchanges may suspend services temporarily until compliance is achieved

Implications

• For investors: Expect tighter scrutiny, possible account freezes, and mandatory KYC
• For platforms: Offshore exchanges must register with FIU-IND or exit the Indian market
• For regulators: Reinforces India’s stance that crypto activity must align with AML/CFT frameworks

Next Steps You Might Explore

Topic	Description
FIU compliance rules	Understand reporting obligations for crypto in India
Crypto regulation in India	Explore evolving legal frameworks and restrictions
Risks of offshore exchanges	Learn about service disruptions and compliance issues
Stablecoin gift card workaround	See how users bypass Indian exchanges with gift cards

Bitget Recovers Over $32 Million in User Funds Amid Global Anti-Scam Drive

Bitget, the world's largest Universal Exchange (UEX), has launched Anti-Scam Month 2026 under the theme "More Assets, Stronger Shield. Stay Safe in the Multi-Asset Era." The annual initiative focuses on helping users navigate an increasingly complex threat landscape as digital asset platforms expand beyond crypto into broader multi-asset ecosystems.

The campaign is accompanied by the release of key security and fraud prevention results from 2025. During the year, Bitget intercepted more than 150 million malicious attack requests, identified over 13,000 high-risk malicious IP addresses, and handled 18,135 user protection cases. The platform's security team also helped users recover approximately $32.3 million linked to security incidents and fraudulent activity.

“The industry is entering a multi-asset era where users can access a wider range of products and markets through a single platform. As that access expands, security responsibilities increase too,” said Hon Ng, Chief Legal Officer at Bitget. “Protecting users requires continuous risk monitoring, rapid response mechanisms, security education, and close cooperation across the industry. Anti-Scam Month reflects the importance of building those protections alongside product innovation.”

Throughout 2025, Bitget continued to strengthen its security framework across account protection, asset custody, fraud prevention, and platform risk management. The platform expanded Passkey authentication capabilities based on FIDO2 and WebAuthn standards, enhanced multi-factor authentication coverage for high-risk account actions, strengthened anti-phishing protections, and improved device management controls that allow users to monitor and manage account access in real time.

Bitget also expanded its real-time threat detection and web security infrastructure in 2025. Security systems recorded more than 2.8 billion interceptions through custom protection rules and mitigated over 1.5 billion DDoS-related attack attempts. The platform's monitoring capabilities were further enhanced through machine learning-based behavioral analysis designed to identify suspicious activity and emerging threats across multiple layers of the ecosystem.

User education remained a major focus of Bitget's security strategy. Anti-Scam Month campaigns conducted across 2024 and 2025 reached approximately 1.38 billion users globally through security awareness content, educational resources, and community engagement initiatives. The company also expanded its Anti-Scam Hub, maintained its public bug bounty program, and introduced interactive initiatives such as the Smarter Eyes Challenge, which attracted close to 50,000 participants through simulated phishing and scam detection exercises.

Bitget continued to collaborate with leading blockchain security organizations, including SlowMist and Elliptic, to support threat intelligence sharing, anti-fraud research, and broader industry awareness efforts. Through a combination of platform security, user education, and industry cooperation, the company continues to invest in creating a safer environment for users navigating digital and tokenized financial markets.

ZebPay Names Anuj Garg as CTO and Bala Pulavarthi as VP - Engineering to Drive Technology Growth

ZebPay, one of India’s pioneering Bitcoin exchanges, today announced the elevation of Anuj Kumar Garg as Chief Technology Officer and Bala Pulavarthi as Vice President – Engineering, further reinforcing its technology leadership, as the company enters its next phase of platform innovation, AI adoption, and engineering growth.

Both leaders will now spearhead the company’s long-term technology roadmap, scalability initiatives, and operational excellence efforts. Over the years, both Anuj and Bala have played instrumental roles in strengthening ZebPay’s engineering and blockchain infrastructure capabilities, contributing across platform scalability, digital asset security, wallet infrastructure, and innovation-led product development. Their elevations reflect ZebPay’s focus on building future-ready technology leadership, as the company accelerates innovation across blockchain, AI, Web3, and next-generation digital asset infrastructure.

Speaking on the announcement, Raj Karkara, Chief Operating Officer at ZebPay, said, “As the digital asset ecosystem continues to evolve rapidly, strong technology leadership remains critical to building secure, scalable, and future-ready platforms. Anuj and Bala have played key roles in strengthening ZebPay’s engineering and blockchain capabilities over the years. Their combined expertise across blockchain infrastructure, AI, cybersecurity, distributed systems, and platform engineering will be crucial as we continue to scale our technology stack, enhance innovation, and support the company’s next phase of growth.”

A seasoned technology leader with over 25 years of experience spanning blockchain, artificial intelligence, automation, and enterprise transformation, Anuj assumes the role after serving as Vice President – Engineering at ZebPay, for more than four years. In his new role, he will be responsible for shaping and executing the company’s technology and product strategy in line with its long-term growth roadmap. He will oversee ZebPay’s engineering, architecture, infrastructure, security, DevOps, and data functions, while leading AI-driven initiatives across the company’s engineering and product teams. Furthermore, Anuj will drive platform modernization, cloud-native transformation, cybersecurity resilience, and innovation across blockchain, Web3, AI, and emerging technologies to further strengthen ZebPay’s secure and scalable digital asset infrastructure. Beyond his corporate responsibilities, he has made significant contributions to the blockchain ecosystem as a mentor, speaker, researcher, and academic advisor, and is currently pursuing a PhD in Blockchain & Robotics.

Commenting on his elevation, Anuj Kumar Garg, Chief Technology Officer, ZebPay, highlighted, “I am honoured to take on the role of CTO at ZebPay at such an exciting time, for both the company and the digital asset industry. Over the years, I have had the privilege of working alongside exceptional teams, solving complex engineering challenges, and helping build one of the industry’s most trusted Bitcoin-centric platforms. As digital assets and Web3 technologies continue to mature globally, our focus will remain on delivering secure, scalable, and innovation-led solutions that enhance user trust, grow operational excellence, and contribute meaningfully to the growth of the broader blockchain ecosystem.”

Alongside Anuj’s appointment, ZebPay has also elevated Bala Pulavarthi as Vice President – Engineering. A technology leader, architect, researcher, and mentor with over 13 years of industry experience, including more than a decade in the blockchain ecosystem, Bala has played an important role in strengthening ZebPay’s blockchain infrastructure, wallet architecture, digital asset operations, and platform security capabilities. He brings deep expertise across blockchain integrations, digital asset custody, distributed systems, wallet security, and scalable exchange infrastructure. Beyond his industry experience, he remains actively involved in research and mentorship and is currently pursuing a PhD in Blockchain & Robotics, at IIT Mandi, with a focus on the convergence of blockchain, AI, and autonomous systems.

“The digital asset ecosystem is entering a phase of accelerated evolution across innovation, infrastructure, and adoption, making this a pivotal time for the industry. Over the last six years at ZebPay, I have had the opportunity to contribute towards building secure and scalable blockchain systems alongside incredibly talented teams. As the industry continues to mature, our focus will remain on strengthening platform reliability, security, and engineering excellence while building resilient infrastructure that supports the future growth of Web3 and digital assets,” mentioned Bala Pulavarthi, Vice President – Engineering, ZebPay.

The announcement comes at a time when the global digital asset industry is witnessing increased institutional participation, growing adoption of blockchain-powered applications, and a heightened focus on compliance, security, and technological resilience. With the industry continuing to evolve, ZebPay remains committed to building a secure, trusted, and future-ready crypto ecosystem through innovation-driven, user-centric, and compliance-first initiatives.

WazirX Launches Crypto Futures With Lowest Trading Fees In The Industry

WazirX today announced the launch of crypto Futures trading, bringing crypto derivatives to Indian traders with a fee structure that makes professional-grade trading accessible to everyone.

WazirX Futures will have a maker fee of 0.02% and a taker fee of 0.04%. Among Indian crypto exchanges, this is the lowest fee, with no volume threshold required to access it. Users can also access Futures directly with INR, without converting to USDT before opening a position, removing a friction point that has historically complicated derivatives trading for Indian retail traders.

"Futures trading in India has meant high fees unless you are a large-volume institutional trader. We have changed that baseline. A trader starting out on WazirX Futures gets the same fee rate as an institutional trader on most other platforms.The aim is to provide a robust platform with low fees for futures traders," said Nischal Shetty, founder, WazirX.

Before accessing Futures, users complete a mandatory knowledge quiz covering leverage, margin and liquidation. The initiative is designed to encourage responsible trading practices, to ensure users are well informed before they participate in Futures trading. At the same time, the platform is investing in user education initiatives to help a broader base of traders understand Futures well.

WazirX Futures is also linked to the platform's ongoing Restructuring. Futures trading will generate further profits from platform operations and directed toward additional recoveries for eligible creditors who hold Recovery Tokens. This is on top of the 85% fund distribution already completed.

WazirX Futures will be expanded in phases, based on liquidity, risk controls and user readiness.

WazirX is one of India’s leading crypto exchanges, with over 16 million registered users. The platform offers a user-friendly way to buy, sell, and trade cryptocurrencies like Bitcoin, Ethereum, Solana, Ripple, etc. without any trading fees, at only INR 99 a month. WazirX has partnered with BitGo and integrated Fireblocks’ technology to strengthen digital asset security. WazirX is committed to providing its users with the best possible trading experience, focusing on security, ease of use, and customer support.

For more information about WazirX, please visit: https://wazirx.com/

Binance Reinforces User Safety With Global Verification Tool Against Impersonation Fraud

• If someone reaches out claiming they work with Binance – especially in roles like business development and partnerships, account management, and customer support – check them using Binance Verify. If they cannot be verified, treat the contact as untrusted, and do not proceed. 
• If anyone guides you to download and open files, share screenshots of your account pages, scan QR codes to log in, enable remote control or screen sharing, share your password, or click unknown links, stop immediately.
• Do not open compressed files or run attachments sent by strangers, even if they look like normal documents. If you have already opened a suspicious file or shared screenshots, contact Binance Customer Support and take immediate account-security steps.

Binance, the world's leading cryptocurrency exchange and blockchain infrastructure provider, today reiterated its longstanding commitment to user safety and responsible trading by reinforcing comprehensive guidance to help retail users identify, avoid, and report impersonation fraud. Central to its ongoing effort is Binance Verify — its official channel-authentication tool, which has been freely accessible to all users worldwide since its launch, with no account or login required. The tool allows any individual to instantly confirm whether a domain, email address, phone number, or social media handle corresponds to a verified, official Binance channel. Its unrestricted public availability reflects Binance's position that safety infrastructure is accessible to everyone, account holders and non-account holders alike, and that the first line of defence against fraud must be in the hands of every user.

Impersonation fraud has emerged as one of the most persistent threats in the digital asset space. Fraudsters routinely create lookalike profiles, clone official communications, and mimic legitimate platforms with a level of sophistication that makes detection difficult for even experienced users. The consequences — financial loss, compromised account security, and erosion of trust in regulated platforms — are real and significant. What this threat makes clear is that user protection cannot rest with any single party. Exchanges must build robust safeguards, regulators must maintain an informed oversight environment, and users must be equipped to exercise their own vigilance.

SB Seker, Head of APAC, Binance commented, "As crypto adoption deepens, we are seeing attacks that are no longer opportunistic but engineered. Bad actors are studying how users interact with platforms, mimicking familiar language, interfaces, and processes with alarming precision. That is deeply concerning, because the people being targeted are often those who are newest to crypto and most trusting.

Protecting our users is not a compliance obligation, it is a commitment we hold at the core of everything we do. Every tool we build, every advisory we issue, every awareness effort we run comes from a conviction that our users feel safe and empowered. We will continue to invest in stronger safeguards, deepen user education, work closely with industry partners, and stay ahead of emerging threats because the trust our users place in us is something we will never take for granted."

Binance recognises that the integrity of the digital asset ecosystem depends on coordinated action across the industry. Lookalike domains and impersonator platforms do not merely harm the users they deceive, they damage the reputation of legitimate exchanges and complicate the regulatory environment for the sector as a whole. Binance invites regulators, industry bodies, and fellow platforms to collaborate on establishing clearer verification standards, swift reporting mechanisms for fraudulent brand misuse, and joint user-awareness initiatives that reach retail participants at scale.

Users who wish to verify the authenticity of a Binance communication can do so immediately at https://www.binance.com/en/official-verification. Users who believe they have been targeted by an impersonation attempt are encouraged to contact Binance Customer Support through official channels and to report the incident promptly. For detailed guidance on how to use the tool, visit FAQ: What Is Binance Verify?

India Sets Up Lab to Track Offshore Crypto Platforms

India has launched a new “Virtual Asset Lab” under the Financial Intelligence Unit (FIU) to track unregistered offshore crypto platforms, aiming to curb money laundering and tax evasion risks. The lab uses advanced analytics and web surveillance tools to identify high-risk virtual asset service providers (oVASPs) operating outside Indian regulations.

Key Highlights

• Launch Date: March 2026
• Authority: FIU-India, supported by inter-agency cooperation
• Objective: Detect and disrupt offshore crypto platforms serving Indian users without registration
• Tools Used: Analytics, AI-driven monitoring, and web surveillance
• Global Context: Initiative aligns with Financial Action Task Force (FATF) recommendations

Why Offshore Crypto Platforms Are Targeted

• Many offshore exchanges bypass KYC norms and avoid Indian tax obligations.
• They operate without physical offices in India, making enforcement difficult.
• Often registered in one country but serving users globally, creating regulatory blind spots.

Benefits of the Virtual Asset Lab

• Enhanced Oversight: Identifies unregistered oVASPs and flags suspicious activity.
• User Protection: Shields Indian traders from fraud-prone platforms.
• Compliance Enforcement: Helps remove unauthorized crypto sites and enforce FIU rules.
• Global Cooperation: India joins FATF members in disrupting illegal crypto activity.

Comparison: India’s Virtual Asset Lab vs. Global Efforts

Feature	India’s Virtual Asset Lab	Other FATF Jurisdictions
Focus	Offshore unregistered oVASPs	Similar focus on high-risk oVASPs
Tools	AI analytics + web surveillance	Cooperation with ISPs, app stores
Regulatory Authority	FIU-India	National FIUs & regulators
Primary Goal	Prevent money laundering, enforce compliance	Disrupt unauthorized crypto activity

Risks & Challenges

• Regulatory Arbitrage: Offshore platforms may shift operations to new jurisdictions.
• User Adaptation: Traders might migrate to decentralized exchanges (DEXs), harder to regulate.
• Implementation Complexity: Requires strong inter-agency coordination and global cooperation.

Takeaway

India’s Virtual Asset Lab is a decisive step toward modernizing crypto oversight. For Indian traders, this means stricter compliance checks and possible restrictions on using offshore exchanges. It also signals India’s intent to align with global FATF standards, strengthening its fight against illicit financial flows in the crypto ecosystem.

Coinbase Wins India’s Nod for $2.45B CoinDCX Stake

India’s antitrust regulator has officially approved Coinbase’s acquisition of a minority stake in CoinDCX, valuing the Indian crypto exchange at $2.45 billion. This marks a major regulatory milestone for Coinbase as it rebuilds its presence in India after exiting in 2023 due to compliance and payment challenges.

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Key Highlights

• Approval Authority: The Competition Commission of India (CCI) cleared Coinbase’s minority stake acquisition in DCX Global Ltd, the parent company of CoinDCX.
• Valuation: CoinDCX confirmed the deal values the exchange at $2.45 billion, underscoring its position as one of India’s largest digital asset platforms.
• Strategic Intent: Coinbase aims to expand operations in India and the Middle East, strengthening its long-term partnership with CoinDCX.
• Background: Coinbase had exited India in 2023 after regulatory and payment gateway hurdles but is now re-entering with a more cautious, regulator-approved approach.
• History of Investment: Coinbase has been an investor in CoinDCX since 2020, participating in earlier funding rounds. This latest move extends its commitment.

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Why This Matters

• For Coinbase:
  • Re-establishes credibility in India’s tightly regulated crypto market.
  • Provides a foothold in Asia’s fastest-growing digital asset ecosystem.
  • Signals resilience after setbacks, including a $44 million security breach earlier in 2025.
• For CoinDCX:
  • Boosts legitimacy with global backing.
  • Enhances ability to scale operations and attract new users.
  • Positions itself as a bridge between Indian retail investors and global crypto liquidity.

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Risks & Challenges

• Regulatory Uncertainty: India’s crypto regulations remain fluid, with taxation and compliance burdens still heavy.
• Market Volatility: Crypto valuations can swing sharply, making long-term stability uncertain.
• Trust Factor: Coinbase must rebuild trust after its abrupt 2023 exit and recent security breach.

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Comparison Snapshot

Aspect	Coinbase (Global)	CoinDCX (India)
Market Reach	US, EU, Asia	India, Middle East
Valuation Impact	Strengthens Asia presence	$2.45B valuation confirmed
Regulatory Status	Approved by CCI	Gains legitimacy via global partner
Strategic Goal	Re-entry into India	Expansion with global capital

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Bottom Line: Coinbase’s approved minority stake in CoinDCX is more than just an investment—it’s a strategic re-entry into India’s crypto market, with potential ripple effects across Asia. The move strengthens CoinDCX’s valuation and credibility, while giving Coinbase a second chance to establish itself in one of the world’s most dynamic digital asset markets.

Coinbase Relaunches in India: Crypto-to-Crypto Trading Resumes, INR Support Delayed Until 2026

Coinbase, the world’s largest publicly listed cryptocurrency exchange, has officially reopened its services in India after a two-year hiatus. The relaunch, announced quietly in December, allows Indian users to register and trade crypto-to-crypto pairs. However, fiat deposits in Indian rupees (INR) will not be available until 2026, marking a cautious re-entry into one of the world’s fastest-growing digital asset markets.

A cautious return

Coinbase first entered India in April 2022 but quickly suspended Unified Payments Interface (UPI) support after the National Payments Corporation of India (NPCI) distanced itself from crypto transactions. By 2023, the exchange had fully off-boarded Indian users.

This time, Coinbase is taking a compliance-first approach. The company has registered with India’s Financial Intelligence Unit (FIU), signaling its intent to align with local anti-money laundering and reporting requirements. At India Blockchain Week, Coinbase APAC Director John O’Loghlen confirmed that fiat on-ramps will be introduced in 2026.

Current limitations

• Crypto-to-crypto trading only: Indian users can trade pairs like BTC/ETH but cannot deposit or withdraw INR.
• Fiat integration delayed: INR deposits and withdrawals are expected in 2026.
• Regulatory uncertainty: India’s 30% tax on crypto gains and 1% TDS per transaction remain significant hurdles.

Competitive landscape

Coinbase’s delayed fiat rollout places it behind local rivals:

Feature	Coinbase (India, 2025 relaunch)	WazirX	CoinDCX
Fiat Support (INR)	Not available until 2026	Full INR deposits/withdrawals	Full INR deposits/withdrawals
Trading Options	Crypto-to-crypto pairs only	Spot, P2P, futures	Spot, margin, futures
Fees	Globally competitive, INR fees TBD	~0.2% trading fee	~0.1% trading fee
Liquidity	Global liquidity, limited INR access	Strong local liquidity	Moderate liquidity
Regulatory Status	FIU registered	Indian compliance	Indian compliance

Strategic outlook

Coinbase’s India relaunch is less about immediate retail dominance and more about long-term positioning. By securing FIU registration and promising INR integration in 2026, the company is betting on regulatory clarity and institutional adoption.

Yet, the trust gap remains. Coinbase’s abrupt 2023 exit left many Indian users wary, and its delayed fiat support risks ceding ground to entrenched rivals. Success will depend on whether Coinbase can rebuild credibility and leverage its global brand to attract Indian traders once INR deposits go live.

The bottom line

• Near-term practicality: Indian users seeking INR access will find WazirX and CoinDCX more practical.
• Coinbase’s proposition: Global liquidity and compliance assurances, but patience required until 2026.
• Market watch: The coming year will determine whether Coinbase can reclaim relevance or remain secondary until regulatory clarity arrives.

WazirX to Restart on 24th October With 0% Trading Fees

WazirX, India’s leading crypto exchange, is restarting operations on 24th October. This follows the successful completion of its restructuring process, sanctioned by the Hon’ble High Court of Singapore, and backed overwhelmingly by creditors.

This marks a fresh chapter in the platform’s journey to rebuild trust, transparency, and innovation.

As part of the Restart Offer, all users will enjoy 0% trading fees across all trading pairs. This initiative will help WazirX users to trade without the burden of fees on each trade.
Phased Launch Approach

The relaunch will begin with certain crypto-to-crypto pairs and USDT/INR pair, followed by the gradual expansion of additional markets in the coming days.
Renewed Commitment to Security and Transparency

In a major step towards enhancing fund safety, WazirX has partnered with BitGo, a global leader in digital asset custody, to safeguard platform assets through institutional-grade, insured custody solutions.

Nischal Shetty, Founder of WazirX, said,

At the heart of everything we do is our mission to make crypto accessible to every Indian. I want to thank the WazirX community for their patience through these difficult times.

Asset security is currently a crucial aspect in the global crypto ecosystem. Our partnership with BitGo adds an additional layer of trust and protection with world-class custody standards, as we restart. This isn't just a return to operations, it’s a reinforcement of our integrity which we’ve always strived for.”

Earlier this week, WazirX completed token swaps, merger, delisting, migration of tokens and any rebranding that the tokens may have undergone. WazirX is able to restart operations and initiate token distributions to creditors within 10 business days as estimated. In addition, the platform is working towards issuance of Recovery Tokens to creditors.

For more information, visit www.wazirx.com

Coinbase Invests in CoinDCX, Valuing Indian Crypto Exchange at $2.45 Billion

Coinbase has deepened its commitment to the Indian crypto market by investing further in CoinDCX, valuing the exchange at $2.45 billion post-money. Here's a quick breakdown of what this recent development in Indian cryptocurrency market:

Investment Highlights

• Investor: Coinbase Ventures (the investment arm of Coinbase)
• Recipient: CoinDCX, one of India’s leading crypto exchanges
• Valuation: $2.45 billion post-money
• Funding Type: Extension of a previous round; exact amount undisclosed
• Purpose:
  • Expand CoinDCX’s product suite
  • Drive user growth and innovation
  • Strengthen presence in India and the Middle East
  • Introduce new on-chain use cases tailored for India

• Strategic Moves:
  • CoinDCX recently acquired BitOasis, a crypto exchange in the Middle East and North Africa
  • The company now serves over 20 million users across India and the UAE

Coinbase’s Perspective:

Shan Aggarwal, Chief Business Officer at Coinbase, emphasized the potential of India and the Middle East as dynamic regions for crypto adoption and innovation

CoinDCX Valuation Timeline

Date	Round	Amount Raised	Post-Money Valuation	Key Investors
Sep 2020	Series B	$13.9M	$36.3M	Block.one, Polychain, Jump Capital
Jun 2021	Series C	$90.2M	$779M	Coinbase, Bain Capital, Polychain
Mar 2022	Series D	$135M	$1.51B	Pantera Capital, Steadview, Coinbase
Oct 2025	Extension	Undisclosed	$2.45B	Coinbase Ventures

Bitget Becomes First Exchange to Offer All Cryptos on Four Major Chains in One Account

Bitget, the world’s leading Universal Exchange (UEX), has announced a major upgrade to Bitget Onchain, a revolutionary feature that allows users to seamlessly trade, stake, and manage millions of on-chain tokens directly from a single Bitget spot account. The expansion introduces support for four leading blockchains — Ethereum, Solana, BSC, and Base — transforming Bitget Onchain from selected assets into a comprehensive gateway to the decentralized economy.

With this upgrade, Bitget Onchain delivers a full-featured and user-friendly experience that combines the diversity of decentralized markets with the security and reliability of centralized exchanges. Users can now access millions of tokens across multiple chains without the need to juggle separate Web3 wallets, external transfers, or private key management. This streamlined approach makes on-chain trading more accessible to a wider user base while retaining the advanced tools and protections expected by professional traders.

In addition to broad multi-chain coverage, Bitget has also launched Onchain Signals, a new feature powered by AI algorithms. Onchain Signals tracks and filters high-quality “smart money” addresses across blockchains, providing users with real-time token alerts and actionable insights. With one-click trading capabilities, users can act quickly on opportunities and follow strategies from leading market participants, improving both efficiency and success in their on-chain operations.

Security remains at the heart of Bitget Onchain. All tokens are pre-screened, with additional safeguards in place for high-risk assets, ensuring users benefit from exchange-grade protection while exploring the open on-chain ecosystem.

The Onchain upgrade marks another step toward Bitget’s long-term vision of building the Universal Exchange (UEX). As the next-generation exchange model, UEX will support all tradable crypto assets, unlike current CEXs, which mostly support only a few hundred mainstream tokens. In addition, UEX's service radius will not be limited to cryptocurrencies—global premium assets such as stocks, ETFs, gold, and forex will all be tradable on UEX. This is not just about combining the advantages of CEX and DEX, but a fusion of technology and philosophy. While most global exchanges have only begun experimenting with Web3 integrations or partial on-chain coverage, Bitget has already advanced further with unified accounts, full-asset support across multiple blockchains, and AI-driven trading intelligence. Bitget is the first exchange to provide this experience, where users can access both the reliability of CEX and the diversity of DEX in one place.

“Bitget Onchain is breaking down barriers between CEX and DEX by offering both accessibility and security in one place,” said Gracy Chen, CEO of Bitget. “By expanding coverage to millions of tokens across top blockchains and introducing AI-powered Onchain Signals, we are giving users the smartest, safest way to trade on-chain. This upgrade also represents the core of UEX's vision — helping users trade smarter across every market, on-chain and beyond.”

With Bitget Onchain, users gain unmatched access to the decentralized token universe in a secure, streamlined, and user-friendly environment, maintaining Bitget’s role as a global leader in building the future of finance.

For more information on Bitget Onchain, visit here .

About Bitget

Established in 2018, Bitget is the world's largest Universal Exchange (UEX). Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.

Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Coinbase Reboots in India: FIU Nod, Trading Pause, and Possible CoinDCX Buyout

Coinbase, a leading centralized cryptocurrency exchange founded in 2012 by Brian Armstrong, has grown into one of the most trusted platforms for buying, selling, and storing digital assets. It serves over 245,000 ecosystem partners across 100+ countries, with more than $425 billion in assets on its platform.

Headquartered in the U.S. (though now remote-first), Coinbase, has made a notable comeback in India after a period of regulatory turbulence. Here's a breakdown of its current status and activities:

Re-entry into the Indian Market

• Coinbase has officially registered with India’s Financial Intelligence Unit (FIU), allowing it to operate under local compliance frameworks.
• This marks a strategic shift from its earlier exit in 2022, when it halted services due to issues with UPI integration and regulatory uncertainty.

What’s Now Available

• Indian users can reportedly send, receive, convert, and store supported cryptocurrencies on Coinbase.
• Full trading services (buy/sell) are expected to roll out later this year, following further regulatory alignment.

Security & Compliance

• Coinbase emphasizes high security standards including 2FA, cold storage, and insurance protection.
• Its FIU registration ensures anti-money laundering (AML) compliance, making it a safer option compared to unregulated platforms.

Limitations & Challenges

Trading is still restricted for Indian users as of now—no direct buying/selling of crypto.

Transaction fees on Coinbase tend to be higher than local exchanges like CoinDCX or Binance India.

Strategic Vision

Coinbase sees India as a key hub for onchain innovation, citing the country’s growing developer base and startup ecosystem.

The company aims to empower local builders through tools like Base, its Ethereum Layer 2 platform.

Crypto Exchange Comparison

Feature	Coinbase 🇺🇸	CoinDCX 🇮🇳	Binance India 🌏
Founded	2012 (US)	2018 (India)	2017 (Global)
Regulatory Status	FIU-registered in India	FIU-registered	Operates via WazirX (unclear FIU status)
Trading Access (India)	Limited (no buy/sell yet)	Full access	Full access
Fees	High (up to 3.99%)	Low (0.04%–0.1%)	Very Low (0.015%–0.1%)
Security	2FA, cold storage	BitGo-backed, recently hacked	2FA, SSL, cold storage
Mobile App	iOS & Android	iOS & Android	iOS & Android
Referral Bonus	₹750 in BTC	₹100 in ETH	Varies (BNB discounts)
User Experience	Global UX, beginner-friendly	Localized UX, beginner-friendly	Advanced UX, pro tools
Recent News	Re-entered India, may acquire CoinDCX	Recovering from $44M hack	Stable, high liquidity

Key Insights

• Coinbase is re-entering India with FIU registration and may acquire CoinDCX to accelerate local presence. Talks are ongoing but not confirmed. 
• CoinDCX offers low-cost trading and full access but is recovering from a major security breach. CoinDCX recently suffered a $44M hack.
• Binance India remains dominant for advanced traders, though its regulatory clarity is still in question.

The Most Popular Cryptocurrencies Swapped on Swapzone

What is Swapzone?

Swapzone is a crypto exchange aggregator that allows users to compare and swap digital assets seamlessly. The platform offers real-time exchange rates, a user-friendly interface, and support for hundreds of cryptocurrencies.

Why Do Users Prefer Swapzone?

Swapzone stands out among crypto exchange platforms due to its transparency, speed, and convenience. Users can choose the best exchange rate from multiple providers without the need for account registration, ensuring a hassle-free experience.

Top Cryptocurrencies Swapped on Swapzone

Based on user activity, the following cryptocurrencies are among the most frequently exchanged on Swapzone:

1. Bitcoin (BTC)

Bitcoin remains the king of cryptocurrencies. It is widely traded and serves as the primary store of value in the digital asset space. Many users swap BTC to diversify their portfolios or take advantage of market fluctuations.

2. Ethereum (ETH)

Ethereum is the second-largest cryptocurrency by market capitalization and a top choice for swaps. With its smart contract functionality, ETH is widely used in decentralized applications (DApps) and DeFi protocols.

3. Tether (USDT)

Stablecoins like Tether (USDT) are highly sought after for their stability and liquidity. Many users swap volatile assets for USDT to protect their investments from market fluctuations.

4. Solana (SOL)

Solana has gained immense popularity due to its high-speed transactions and low fees. Many users swap SOL to participate in its growing ecosystem of decentralized applications and NFTs.

5. Ripple (XRP)

Ripple (XRP) is favored for its fast and cost-efficient transactions. Many traders and investors swap XRP to benefit from its low transaction fees and cross-border payment capabilities.

6. Cardano (ADA)

Cardano’s popularity stems from its advanced blockchain technology and sustainability features. Users often swap ADA to engage with the Cardano ecosystem and its staking opportunities.

7. Dogecoin (DOGE)

Originally started as a joke, Dogecoin has gained mainstream adoption and is frequently swapped due to its active community and use in tipping and microtransactions.

How to Swap Cryptocurrencies on Swapzone?

Swapping cryptocurrencies on Swapzone is simple and can be done in a few steps:

1. Visit the Swapzone website.
2. Select the cryptocurrency you want to swap and the one you wish to receive.
3. Compare exchange rates from multiple providers.
4. Choose the best offer and proceed with the swap.
5. Enter your wallet address and complete the transaction.
6. Within minutes, your swapped cryptocurrency will be sent to your wallet.

Conclusion

Swapzone provides a fast, reliable, and user-friendly platform for crypto swaps. Whether you are looking to exchange Bitcoin, Ethereum, or any other popular digital asset, Swapzone ensures you get the best rates with minimal effort.

Binance Pays ~ $2.25 Mn Fine to Restart Operations in India, Registers With FIU-IND

Binance, one of the world’s largest cryptocurrency exchanges, has registered with India's Financial Intelligence Unit (FIU-IND) and paid a fine of Rs 18.8 crore (approximately $2.25 million) to resume its operations in India, reported several leading media outlets including Gadgets360.com.

This registration marks Binance's 19th global regulatory milestone. The fine was imposed due to non-compliance with India's Prevention of Money Laundering Act (PMLA).

This move allows Binance to re-enter the Indian market, which is noted for its high level of grassroots crypto adoption. Binance's CEO, Richard Teng, emphasized the importance of aligning with Indian regulations to support the country's evolving virtual digital assets (VDA) market.

Binance supports over 350 cryptocurrencies, including popular ones like Bitcoin, Ethereum, and BNB. The crypto exchange operates in over 180 countries and serves millions of users worldwide. Notably, Binance is known for its competitive trading fees, which are among the lowest in the industry. 

Binance’s re-entry into the Indian market could have several implications for other crypto exchanges. Binance’s presence, given its global reputation and extensive services, will likely intensify competition. Other exchanges may need to enhance their offerings and customer service to retain and attract users.

Binance’s compliance with Indian regulations might set a precedent, pushing other exchanges to ensure they meet all regulatory requirements. This could lead to a more standardized and transparent market.

Binance’s return could boost overall market confidence, potentially attracting more investors and users to the crypto space in India. This could benefit all exchanges by expanding the user base. To stay competitive, other exchanges might innovate more rapidly or seek partnerships to leverage new technologies and services.

Indian Govt Stance on Cryptocurrency

The Indian government’s stance on cryptocurrencies has evolved significantly over the years, reflecting a balance between embracing innovation and ensuring financial stability. Initially, the government was skeptical about cryptocurrencies, citing concerns over financial stability, investor protection, and potential misuse for illicit activities. This led to a banking ban on crypto transactions in 2018.

The much-anticipated Crypto Bill, which aims to provide a comprehensive regulatory framework, has faced numerous revisions and delays. The bill's contents remain unclear, with conflicting reports about its stance on private cryptocurrencies.

Despite regulatory caution, the government has shown interest in blockchain technology. Initiatives like the Maharashtra Blockchain Sandbox and IndiaChain highlight efforts to leverage blockchain for e-governance and other applications.

The Reserve Bank of India (RBI) is working on a digital version of the Indian Rupee, indicating a progressive stance towards digital Currencies.

Overall, the Indian government's approach to cryptocurrencies is evolving, with a focus on finding a balance between innovation and regulation. This ongoing process reflects the global struggle to effectively regulate digital assets while harnessing their potential benefits.

Mastercard's Crypto Payment Offering 'Crypto Credential' is Now Live with 1st P2P Pilot Transaction

Mastercard has recently launched its Mastercard Crypto Credential, which enables peer-to-peer (P2P) transactions using aliases instead of long and complex blockchain addresses. This innovative system aims to simplify cryptocurrency transactions for exchange users, offering a more user-friendly approach.

For the first time, crypto exchange users will be able to send and receive crypto using their Mastercard Crypto Credential aliases, instead of the typically long and complex blockchain addresses.

Launched last year, in April, Mastercard Crypto Credential is a set of common standards and infrastructure that will help verify interactions among consumers and businesses using blockchain networks. Mastercard Crypto Credential aims to provide a foundation for financial institutions, governments, brands, and crypto players, ensuring that those interested in interacting across web3 environments are meeting defined standards for the types of activities they’d like to pursue.

Key details about the Mastercard Crypto Credential:

What It Does

The Mastercard Crypto Credential verifies interactions among consumers and businesses using blockchain networks. It ensures that users meet a set of verification standards and confirms that the recipient's wallet supports the transferred asset.

By exchanging metadata, it eliminates the complexity of knowing which assets or chains are supported by the recipient, bringing more trust and certainty to transactions.

Live Transaction Capabilities

The live transaction capabilities are initially enabled on the Bit2Me, Lirium, and Mercado Bitcoin exchanges, allowing them to enable blockchain transactions simply and securely between Latin American and European corridors. These capabilities allow for simple and secure blockchain transactions between Latin American and European corridors.

Users in Argentina, Brazil, Chile, France, Guatemala, Mexico, Panama, Paraguay, Peru, Portugal, Spain, Switzerland, and Uruguay can now send cross-border and domestic transfers across multiple currencies and blockchains.

Travel Rule Support

The system also supports the exchange of Travel Rule information for cross-border transactions. The Travel Rule is a regulatory requirement aimed at ensuring transparency and preventing potentially illegal activities.

The P2P transaction is just the beginning. Mastercard Crypto Credential aims to support various use cases, including NFTs, ticketing, and other payment solutions, depending on market and compliance requirements.

Foxbit is the latest crypto wallet provider to join the Mastercard Crypto Credential pilot ecosystem, extending the reach to more consumers. Lulubit users will also receive access through its integration with Lirium.

This milestone represents the first real-world application of the Mastercard Crypto Credential vision, which was unveiled at Consensus in 2023. It has the potential to further expand and support the domestic and cross-border remittance market.

The Mastercard Crypto Credential offers several advantages compared to other crypto payment solutions. Instead of using long and complex blockchain addresses, the Mastercard Crypto Credential allows users to send and receive digital assets using aliases. These aliases are more intuitive and user-friendly, making crypto transactions easier for average users.

When a user initiates a transfer, the program verifies that their alias is valid and that the recipient's network address supports the associated token and blockchain of the transaction. If the recipient's address doesn't support the sender's asset or network, the transaction simply does not proceed, preventing potential loss of funds due to user mistakes.

Additionally, aliases protect against address poisoning scams, where attackers trick wallet users into sending coins to a similar-looking address.

While the P2P transaction is the first use case, the Mastercard Crypto Credential aims to support various scenarios, including NFTs, ticketing, and other payment solutions, depending on market and compliance requirements.

In the next step, said Mastercard, a select group of crypto wallet users will leverage Mastercard Crypto Credential on a first-come, first-serve basis. Thereafter, within the coming months wider availability will roll out to more than 7 million users across the participating exchanges. 

In a nutshell, the Mastercard Crypto Credential simplifies crypto transactions, enhances security, and contributes to the broader adoption of cryptocurrencies in the financial ecosystem.

Crypto Exchange OKX To Enter India and Hire Local Talent for Web3

Image – Raheem Ali OKX @X (twitter) 

OKX (formerly OKEx), a cryptocurrency centralized exchange (CEX) and wallet platform, plans to enter the Indian market and recruit local employees in an effort to expand the possibilities of Web3 applications, said a report by CoinDesk.

In an interview to CoinDesk, Haider Rafique, Chief Marketing Officer of OKX, said, OKX plans to scale up its wallet services "exponentially" by tapping into India's much-talked-about developer community. Currently, OKX has about 200,000 wallet users in India, which is only 5% of the nation's Web3 users.

Founded by Star Xu in 2017, OKX is a global cryptocurrency spot and derivatives exchange, and the second biggest crypto exchange by trading volume, serving over 50 million people globally.

OKX would deliberate on where it can add value to Indian market. "We're going to work with local folks. Figure out where we can add value.", said Rafique.

Rafique said the company has no immediate plans to open an office in India because that's not required to offer Web3 services. However OKX is looking to hire a team, in India, to lead this effort.

Seychelles headquartered OKX has offices in Dubai, Turkey, Hong Kong, Silicon Valley, Singapore, and Australia.

To recall, it was in September 2021 when, in a first strategic partnership in India, OKX joined hands with Bitbns, India's leading crypto wallet and exchange platform to elevate flexible trading capabilities for Indian crypto users across the region. OKX and Bitbns have had integrated using the matic-polygon ecosystem to provide free blockchain transfers to its users.

Notably, Cryptocurrencies isn't banned in India, and neither its legal, and Indian regulations impose a 30% tax on trading of  cryptocurrencies.

Rafique said he thinks regulators in India are beginning to separate Web3 from centralized finance (CeFi). “They’re more concerned about venues that have fiat on-ramps, which we do but we don’t offer it in India,” he said.

Last year in January, OKEx rebranded to OKX to reflect that it is more than an exchange and has growing number of wealth creation opportunities beyond the exchange, which investors use to trade hundreds of digital assets on spot, margin and derivatives markets.

Crypto Platform Giottus Launches Staking, A Way To Earn Passively Upto 10% APY

Keeping with the stated aim of aiding crypto adoption and wealth creation in India, Giottus has introduced Staking, a feature that helps investors earn with their crypto assets such as Cardano (ADA), Polygon (MATIC), Solana (SOL), and Tron (TRX). Currently, the estimated annual percentage yield (APY) on these assets is between 6% and 10%.

Following the successful introduction of FD, Baskets, and SIPs, Giottus customers can now make passive income on their favourite tokens with Staking. All registered customers of Giottus with the above-said assets can start staking immediately or do so by purchasing coins. Ethereum (ETH) is expected to be added to the feature once the Merge is successful this month.

Staking cryptocurrencies is a method that involves engaging crypto assets to support a Proof-of-Stake (PoS) blockchain network and confirm transactions. Protocols like Bitcoin, allow miners to earn rewards for creating blocks. Miners employ specialised hardware that does heavy computing to race towards the solution and claim reward. This is termed as Proof-of-Work (PoW). On the other hand, PoS allows Stakers to claim the rewards for creating blocks. In simple terms, staking is a way of having passive crypto assets earn rewards.

FD and Staking are both methods of passive investment. FD involves generating yield through DeFi lending and comes with a guaranteed interest. Staking allows risk-free earning, but it is possible only on select protocols that use the PoS mechanism. Staking does not come with guaranteed interest as the yield is distributed among all stakers. Actual rewards will be based on the number of participants in Staking.

Investors are requested to approach Giottus’ 24x7 customer service team for further clarifications on the product.

About Giottus Crypto Platform

Giottus is a customer-centric, all-in-one crypto investment platform that is changing the way Indian investors trade their virtual digital assets. Giottus aims to shed barriers that arise from the complexity of the asset class and the need to transact in English. We focus on building a simplified platform that is vernacular at heart. Investors can buy and sell crypto assets on Giottus in twenty Indian languages including in Hindi, Tamil, Telugu, and Bengali. Giottus is currently India’s top-rated crypto platform as per consumer ratings on Facebook, Google, and Trustpilot.

8 Key Features To Look For When Choosing A Crypto Exchange

Digitalization has undoubtedly contributed to the popularization of cryptocurrencies. Many people have bought into the trend, and trade volumes have significantly increased, which proves this. Cryptocurrency certainly has elements that a lot of features gravitate towards. However, it’s still a very volatile asset to hold.

Crypto exchanges facilitate the buying and selling of various cryptocurrencies. There are generally many exchanges to choose from. Every platform is different, and every user (or trader) has different needs. Therefore, not every exchange is the same and could be ideal for every trader. Users will gravitate to certain ones more than others based on their needs. So, you need to look for the exchange that aligns with you.

That said, here are some key features to look for when choosing a crypto exchange.

1. Accessibility

Accessibility matters. You need to confirm whether the crypto exchanges you’re looking for work in your location. Note that some locations may be barred from engaging in crypto trading entirely or partially by their governments. As such, you need to factor this in before taking a plunge mindlessly.

More so, some countries or regions may have specific regulations that affect cryptocurrency trading. You certainly don’t want to be caught off guard. Therefore, ensure that your partnership with an exchange is accessible to you based on your location.

2. User Experience and Interface

As previously mentioned, different exchanges work differently. That could also go for their processes and user experience. Whether you are an experienced investor or not, the exchange platform you use should ideally be simple and intuitive.

Usability is crucial as it can refine the entire user experience. It could take time to adjust to newer platforms, but an excellent interface can make it easier for the user to navigate the website or application.

Often, developers may fall into the trap of cramping features and functionalities at the expense of usability. Most users may opt for a platform with helpful features which are navigable over an unnecessarily complicated platform. As such, you can also look for one that is properly optimized with relevant features and integrated with security features. To know more about factors that streamline crypto trading, see it here.

3. Charges And Other Fees

Before you trade, make sure you understand the exchange’s fee structure. Some exchanges may have a fixed fee, but most work with percentages. The fees you’re charged may also differ based on whether you’re the seller or the buyer and the type of currency you’re trading. And so, you need to confirm the fees because they eat at your profits. In addition, you also need to know how much every exchange charges per transaction.

With that in mind, don’t be discouraged from partnering with exchanges that have high fees if they’re justified. Perhaps they charge those for a good reason, such as additional security and insurance. Regardless of the case, it’s always advisable you confirm this beforehand.

4. Range Of Coins

Aside from the popular cryptocurrencies such as Bitcoin and Ethereum, there are plenty of other alternatives. If you’re a beginner, it may be advisable to stick with the popular ones since they are more abundant.

However, note that the cryptocurrency market is already volatile as-is, and altcoins can be relatively riskier to invest in. But on the other hand, they could also help you diversify your portfolio. And so, in that case, consider looking for exchanges that offer a diverse range of coins. Before you partner with any exchange, you can check whether they have the coins you’re interested in trading or investing in.

5. Informative Platform

For beginners, knowledge about crypto trading may be limited. That said, it would make sense for a beginner to look for a platform that offers features and tools they can use to educate themselves more regarding the crypto options or coins available.

There are some platforms with educational tools in the form of videos and quizzes through which you can bolster your knowledge about cryptocurrencies. Such programs do an excellent job of simplifying potentially complicated concepts for starters, which can be a good bargain for any beginner.

6. Liquidity

If you’re going to be trading crypto regularly, you would need to use a platform that’s liquid. Ideally, you should be able to initiate and close trades on that platform on demand. But that requires liquidity.

More prominent exchanges have the upper hand in this instance since trade volumes are usually high there. They’re more likely to be liquid compared to smaller ones. Exchanges with higher trade volumes enable you to get the best price for every trade. Remember, cryptocurrency is a volatile asset, and prices and values change fast. Therefore, you need a reliable exchange with liquidity that gives you the keys and confidence to trade at any time.

7. Security

Generally, there’s no central institution controlling or regulating the trade of currencies on any platform as it’s a decentralized system. While crypto is relatively secure, cybersecurity threats have been on the rise. Hackers are now using sophisticated ways of accessing confidential information. And with that, it would be best to protect yourself and your investment.

With exchanges, you can look for platforms that have additional security measures that protect your account. Moreover, consider checking whether they offer any insurance policy against hackers or fraudsters. If hackers breach an exchange, insurance can secure your holdings after that attack. Some people may choose to keep their currency in the exchange before transferring it to their hot or cold wallets. Therefore, security should be a significant priority for you.

8. Customer Service

As the client, the exchange you’d want to work with should treat you well because they charge you for every transaction. But not all exchanges prioritize customer service.

In crypto trading, problems may arise. As such, you may need an exchange that cares enough to attend to your needs promptly. Time is money in trading, literally. A five-minute delay can cost you a lot. So, you can’t afford to work with an unreliable exchange because it may lead to losses in the long run.

Furthermore, concerning customer service, it’s always good to research and check testimonials or reviews online. Reviews are generally accurate.

Conclusion

Every exchange may work differently. Each has different standards, processes, and service fees. With the help of the key features listed above, you can choose which one works best for you. More so, consider researching as many platforms as possible and give yourself time to learn before taking a plunge.