Crypto exchange WazirX appoints Chunmun Gupta as chief of staff

WazirX, India’s largest crypto exchange in terms of trading volume, has announced the appointment of Chunmun Gupta as the chief of staff.

Gupta’s appointment has come at a time when there have been reports that WazirX chief executive officer Nischal Shetty and co-founder Siddharth Menon have shifted base to Dubai, UAE.

She would effectively augment the CEO’s office to execute daily business operations and drive key strategic initiatives in her new role. As per the exchange, she will also actively engage in dialogue management with key external stakeholders on critical issues and aid in business development activities.

Speaking on the appointment, Shetty said, “We are delighted to have Gupta in a role that is instrumental to the organization’s growth and development. With her rich understanding of the startup space, we look forward to her insights for bolstering the business from a strategic and tactical standpoint. We firmly believe that she would be a great asset to the team and help accelerate the pace of our growth.”

Gupta has previously served as chief of staff at Razorpay, a fintech company with a presence in India and Southeast Asia. At Razorpay, she led strategic initiatives, revenue management, business performance and effectiveness, and building new business capabilities.

Gupta commented, “It is exciting to be a part of the country’s leading crypto exchange. WazirX has been instrumental in the growth of the Indian crypto landscape. Their relentless focus on serving their customer’s needs really sets them apart. I look forward to being a part of the journey and scaling the company to newer heights.”

She holds a master’s degree in financial engineering from Cornell University and a bachelor’s in chemical engineering from Thapar University.

WazirX is India’s largest crypto exchange by volume and has over 11 million users.

The outlook for the crypto industry in India has turned sour due lack of regulations for crypto assets and higher taxation on this asset class, which was introduced in the Union Budget for 2022. In the first 10 days of April, trading volume on Indian crypto exchanges plunged in the range of 50-70%.

Experts say that crypto exchanges are expected to take a further hit when 1% tax deducted at source (TDS) will be introduced on each crypto transaction from 1 July onwards.