Binance Says It Doesn't Own Indian Exchange WazirX, Years After Acquisition Announcement

Binance, the world's largest crypto exchange by trading volume, said on Friday it doesn't own India-based platform WazirX despite disclosing the acquisition two and a half years ago. From a report: Changpeng Zhao, founder and chief executive of Binance, said in a series of tweets that the company has been 'trying to conclude the deal for the past few years,' but hasn't completed the transaction yet citing 'a few issues' that he declined to elaborate. Binance announced the acquisition of WazirX in late 2019 in a blog post.

The official blog post, which carried a picture of Zhao and WazirX founders, also featured the Binance executive's enthusiasm about the deal. 'The acquisition of WazirX shows our commitment and dedication to the Indian people and strengthen the blockchain ecosystem in India as well as another step forward in achieving the freedom of money,' the 2019 post cited him as saying. WazirX also reported that it had been 'successfully acquired by Binance' in a separate blog post.

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