It is crucial for any cryptocurrency trading platform to keep expanding whenever possible. That applies as much to Binance as it does to any other company in this space.
It would appear the largest cryptocurrency exchange in the world is doing exactly that.
Binance has big Plans for India
By actively entering the crypto space in India, Binance is making a very clear statement.
The decision is somewhat controversial, however, as India’s current regulatory landscape leaves a lot of questions unanswered.
Some even fear the domestic government will ban all activities in the very near future.
Even so, Binance has decided to acquire the WazirX trading platform , which is one of the most prominent exchanges in India today.
Starting next quarter, WazirX’s engine will be integrated into Binance’s Fiat Gateway platform.
In doing so, over 1 billion residents of India will be given convenient access to cryptocurrencies through the Indian Rupee.
Even users of the Binance platform will be able to place orders against the INR from that point forward.
For the company, it makes a lot of sense to explore this potentially huge market, as it remains rather untapped by other companies in this industry.
Binance is also keen on exploring the younger demographic of cryptocurrency enthusiasts in India.
In an effort to boost overall cryptocurrency adoption across the world India may prove to be a very crucial market to keep an eye on.
With another global partner in its portfolio, Binance continues to push the boundaries in terms of bringing cryptocurrencies to a much bigger audience than before.