On 13 February, Malta-based exchange Binance will be integrating India’s WazirX’s P2P trading platform into its own system as part of its next phase of development.
According to the exchange, through this integration process, Binance users would be instantly able to transfer funds between Binance and WazirX accounts and users would be enabled access to WazirX directly from their existing Binance accounts.
Binance users will also be able to both buy and sell USDT via WazirX’s P2P trading platform directly on Binance.
The announcement was welcomed by WazirX CEO Nischal Shetty who tweeted that this development is yet “another step forward in solving the Fiat <> Crypto problem globally.”
This development follows the latest Supreme Court hearing on the “Crypto v. RBI” case. India’s central bank, the Reserve Bank of India, had according to many, failed to provide any substantial study or document arguing a strong case to ban cryptocurrencies in the country.
The growing integration between Binance and WazirX is likely to promote a positive wave of crypto-regulations for the next few years in India.