Indian crypto exchange WazirX cofounders move to Dubai: Sources

April 20, 2022

By Anjali Konchhar

Indian cryptocurrency exchange WazirX has responded to reports of co-founders Nischal Shetty and Siddharth Menon shifting base to Dubai with their families in India.

Responding to the reports, the crypto exchange said it is a remote-first organisation with headquarters in Mumbai and employees are free to work from anywhere. The exchange also said it is building for India and across the country.

“We are a remote-first organisation with employees from over 70+ locations. This gives all the company employees the option to work from anywhere, subject to their comfort and convenience unless they are required to travel officially. WazirX is headquartered in Mumbai, and there is no change in any of our operating procedures. It is business as usual,” WazirX Spokesperson said in an official statement.

On Tuesday, some media reports claimed that WazirX co-founders had shifted base to Dubai with their families, quoting sources.

As per CoinMarketCap, WazirX is the 45th biggest global crypto exchange and the largest exchange in India.

Crypto exchanges in India have been facing a shadowban with banking partners withdrawing support for INR deposits. A number of exchanges have temporarily stopped INR deposits via UPI and other banking channels.

Image is of WazirX founder Nischal Shetty

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.



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