Binance Announces WazirX Sale Results; Set to Open WRX Trading Tomorrow

eToro

The Binance Launchpad platform has announced the results of its WazirX token sale, the first token launch of the platform this year.

According to the platform, there were 10,000 winning tickets held by a total of 9,033 winners. Over 20,000 users participated in the lottery draw, with almost 137,000 tickets being claimed.

eToro Crypto

This puts the percentage of winning participants at 43.74 percent and the percentage of winning tickets at 7.31 percent.

 A press release by the Binance Launchpad platform added that the winners’ BNB balances would be deducted according to the number of tickets that they won within the next 24 hours.

Binance Launchpad will also list WazirX (WRX) on its platform starting tomorrow. It will open trading for WRX/BNB, WRX/BTC, and WRX/USDT trading pairs at 2 am UTC on February 5.

WazirX CEO Nischal Shetty expressed his excitement regarding the enthusiastic response that the crypto received on Binance’s platform in a tweet posted this evening.

Binance’s WazirX Acquisition: Building Fiat-to-Crypto Bridges

Binance Launchpad is the exclusive token launch platform of Binance, which aims to help transformative blockchain start-ups in fundraising, product development, and driving user adoption.

“Building fiat-to-crypto bridges remain a key mission for Binance, and WazirX will help this by providing a simple and cohesive way to purchase cryptocurrencies in a country which is home to more than a billion people,” said Wei Zhou, Binance CFO.

Binance acquired WazirX, India’s leading digital asset platform, in November 2019 in a bid to expand its fiat-to-crypto gateways. The addition of WRX to the Binance ecosystem allowed users to directly place orders on Binance.com or the Binance iOS and Android apps to purchase Tether (USDT) against INR.

Shetty is a leading crypto mogul in India and has been pushing for friendlier crypto-governance in the nation. He began a campaign to this effect with the promotion of the #IndiaWantsCrypto hashtag. Talking about WazirX’s acquisition, Shetty said:

“The next phase of mass adoption for Crypto will arise from developing nations around the world. India with more than a billion people is primed for massive crypto adoption and this acquisition by Binance gives us the opportunity to not only cater to India but every developing nation where fiat on-ramps have to be built. The acquisition is yet another step towards achieving our shared mission with Binance of decentralizing the world.”

WazirX COO, Siddharth Menon, added that the Binance-WazirX collaboration sought to drive mass adoption of crypto across the globe by solving fiat ramps.

Mahima Duggal

Mahima Duggal has completed her MA in International Security from the University of Warwick (UK) with distinction. She also holds a BSc (2:1 Honours) in International Relations from the London School of Economics and Political Science (LSE). She is a trained journalist who has completed an undergraduate degree in journalism and public relations from the University of Newcastle in Australia. Mahima's research interests involve technology, cyber security, human rights and international development. She follows all things crypto and strongly promotes the use of blockchain technology for social change.

Related Articles

Back to top button