- WazirX crosses $200 million in daily trading volume.
- The exchange’s founder announced the success on Twitter and highlighted reasons.
- Moving forward, the exchange is entering its BUIDL phase and hiring new staff.
India-based WazirX just crossed the $200 million mark in daily trading volume. Founder Nischal Shetty posted the news on Twitter and gave details of the exchange’s success.
We crossed $200 Million in daily trading volume on @WazirXIndia
1. We believe our customers know what they want. So we listen to YOU & BUIDL
2. Highest INR liquidity ensures best crypto prices
3. Provide a simple interface
4. Focus on mission#IndiaWantsCrypto
— Nischal (WazirX) ⚡️ (@NischalShetty) April 4, 2021
Notably, this is the highest trading volume in the Indian market by any crypto exchange. However, the news comes amid regulatory uncertainty over the use of crypto in the country.
Talking about how the exchange reached such a feat, the founder gave 4 reasons; The company listened to its customers, built high liquidity, had a simple interface, and focused on its mission to make crypto accessible.
Giving more details on their stronger points, Shetty said that thinking you know more than your users is the “wrong mindset”. He also added that his team was getting better at ‘listening’ every day.
Further, he noted that the exchange follows a quality over quantity approach. This means that WazirX would rather attain higher liquidity than build lots of features. He also stressed that WazirX is an easy-to-use platform, with its simplicity being its strength. Finally, he noted that the exchange has always kept to its mission to make crypto accessible while making decisions.
Looking at the future, WazirX is now entering the BUIDL phase. They are also hiring for all senior and junior roles at the moment.
Marketed as India’s most trusted asset trading platform, WazirX launched in early 2018. Binance later acquired the exchange and enabled multiple fiat-to-crypto paths.
This news is still bittersweet for crypto users in India as the government continues to tighten controls on digital assets. Last month the state made it mandatory for crypto companies to disclose their profits and losses. They were also instructed to disclose virtual assets.