Crypto Exchange giant WazirX founder Nischal Shetty expressed he has all the legal documents to prove that Binance controls all crypto trading and crypto deposits and withdrawals on the platform.
Also expressed Zanmai Labs had a license from Binance to process INR Transactions on Binance.
Nischal Shetty said Zanmai Labs, an Indian entity that operates WazirX is owned by him and other co-Founders and has a license from Binance for processing rupee transactions WazirX as a product and a brand is owned by Binance which was acquired in 2019.
Nischal Shetty said there was a banking ban in place when the acquisition took place and after the ban was lifted an Indian entity was required for WazirX to process rupee deposits and withdrawals.
He expressed "That is when they suggested and we obliged that we use an entity we own and we get a licence from them (Binance) for processing rupee deposits and withdrawals. That is how Zanmai got the licence for WazirX from Binance and you can only give a licence if you own it. That is proof they had acquired WazirX"
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