Eight years ago, in 2018, we launched WazirX with a simple goal: make crypto accessible for Indians.

At that time, buying Bitcoin in India was unnecessarily difficult. A single purchase could take almost a week to complete. The platforms available then were simply not built for the scale and speed the future required. We believed India deserved better. That belief led us to build WazirX.

Within weeks of launching, we faced our first major challenge: the banking ban on crypto. Instead of giving up, we innovated. Our team built the world’s first automated P2P order book system, allowing Indians to continue participating in crypto even when traditional banking rails were unavailable.

This innovation helped WazirX gain traction. Soon after, we launched the #IndiaWantsCrypto campaign to advocate for the crypto ecosystem in the country.

When the banking ban was eventually lifted, the ecosystem exploded with growth. WazirX became the number one crypto exchange in India. At our peak, we recorded over $43 billion in annual trading volume. Our community grew rapidly, from about 1 million users in 2020 to over 10 million users by 2021.

Then came new challenges. The introduction of TDS impacted the entire crypto ecosystem in India. But even through those headwinds, our community stayed strong and we continued building.

In July 2024, we faced one of the most difficult moments in our journey, a cyberattack that impacted the platform. Moments like these test the true character of a company.

Our commitment was clear from day one: we would rebuild, and we would do right by our community.

We worked tirelessly to ensure that 85% of the portfolio value was distributed back to impacted users while reopening the platform so we could rebuild the remaining value through business growth. Today, I’m glad to say that the 85% distribution has been completed and the platform is operational again.

We are now on the next phase of our journey: Rebuilding WazirX.

Looking Forward

We are not here for the short term.

We deeply believe in crypto and in the role India will play in the decentralized future. India has the talent, the builders, and the entrepreneurial spirit to become a global leader in decentralized technology.

Our vision goes beyond running an exchange. We want to help enable a future where thousands of startups build decentralized applications from India for the world.

That future requires strong infrastructure, strong platforms, and strong communities. WazirX will continue doing its part in making that happen.

As we rebuild, we are also focused on improving the platform and delivering more value to our customers.

One of our recent innovations is WazirX ZERO.

Crypto exchanges traditionally charge trading fees on every transaction. Over time, these small percentages quietly add up, often without traders realizing how much they are actually paying.

With WazirX ZERO, we decided to change that model.

For just ₹99 per month, you can trade as much as you want. No hidden percentages. No surprises. Just a simple, transparent plan where you know exactly what you’re paying.

This model respects our customers. We believe traders are smart and deserve clarity instead of complexity. WazirX ZERO is now our default plan, and we will continue building more value into it.

We are also rolling out crypto futures, and over time we plan to introduce staking and several other features that will make the platform even more useful.

And yes, we are working on some new innovations as well. When the time is right, we will share them with the ecosystem.

To The WazirX Tribe

Through every high and every challenge over the past eight years, one thing has remained constant: your support.

The WazirX community has always stood with us. You helped us grow, you helped us survive difficult moments, and you continue to be the reason we keep building.

We will never forget that.

Our focus now is simple: build a stronger WazirX, grow the platform, generate revenues, and distribute profits to our customers as part of our rebuilding journey.

Thank you for being part of the WazirX tribe.

The journey continues.

Jai Hind.
Nischal Shetty
Founder, WazirX