12 November 2021: India’s crypto exchange, WazirX, records stellar performance across all business parameters with a trading volume of over $38 billion in 2021 YTD, marking an average of 44% MoM growth. The platform experienced phenomenal progress with over 10X signups in 2021, expanding its user base to 10 million.
WazirX’s seamless and efficient trading experience has led to the company’s remarkable growth in the past year. With the growing popularity of crypto, the platform recorded 2648% growth in user signups from Tier-II and Tier-III cities of India along with massive adoption by women, especially from tier 2 and 3 cities in India. While aiding job creation, financial freedom with crypto is another important factor resulting in the influx of new investors.
With the new-age technological advancements, the company also launched India’s first-ever NFT marketplace in 2021, recording net sales of Non-Fungible Tokens (NFTs) amounting to 2,05,126.66 WRX. The platform has a creator-to-collector ratio of 1:53, with a total of 737 creators and 481 collectors. The numbers indicate the increasing participation in blockchain-based NFTs. Witnessing an unprecedented growth, the net NFT minted and sold by artists on the platform amounts to 8317 and 4056, respectively, standing at a ratio of 2:05.
Committed to the safety and security of its investors, WazirX launched its policy arm and published India’s first-ever crypto exchange Transparency Report in 2021. As a testament to the crypto industry in the country, the move intends to increase participation by bringing transparency to the initiatives taken by WazirX for investor protection. Additionally, boosting the adoption of blockchain-based technology, the company rolled out Blockchain Papers (BP). With a core team of experienced journalists, senior policymakers, and senior research analysts, the platform is dedicated to building clarity around the industry while discussing potential approaches for the unsolved aspects in the crypto world.
Bolstering its rank in the crypto industry, WazirX is taking several initiatives to raise crypto awareness in India with its education partner program, WazirX Campus Outreach Program, and WazirX Warriors Program. The objective is to educate the students and masses on crypto as an emerging alternative asset class. It further rules out misinformation that keeps people from investing and understanding crypto.
In tandem with the expanding participation in crypto, WazirX continues to strengthen the crypto ecosystem in India. The exchange platform continues to scale its operations with seamless NFT trading while ensuring safe and secure transactions with the best practices on KYC & AML compliances. In a year full of stellar gains, the platform also launched its education program and policy think tank to ensure crypto awareness.