RATE Group | India’s First IEO Gives Local Community a Much-Needed Breath of Fresh Air
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India’s First IEO Gives Local Community a Much-Needed Breath of Fresh Air

07 Feb India’s First IEO Gives Local Community a Much-Needed Breath of Fresh Air

Posted at 07:26h in Cryptocurrency News by

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Despite regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India, WazirX — the Indian cryptocurrency exchange recently acquired by Binance — launched its WRX coin through an initial exchange offering on Binance Launchpad. On Feb. 5, 2020, WRX coin became available for live trading on Binance. The move was dubbed as a big achievement for the Indian crypto industry, as it will likely lead to global recognition. 

Earlier, Cointelegraph reported that the 9,033 winners of WazirX’s token sale on Binance Launchpad were announced. Over 20,000 users participated and more than 136,000 tickets were claimed.

In a conversation with Cointelegraph, Nischal Shetty, founder of WazirX, said that this has brought a much-needed positive energy into the entire Indian ecosystem:

“This is the much needed good news for the Indian community because from the last two years, with the bear market and the banking restrictions, Indian crypto ecosystem needed a huge morale…

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