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Business News/ Markets / Cryptocurrency/  Crypto exchange WazirX records surge in userbase in Tier-II, Tier-III Indian cities
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Crypto exchange WazirX records surge in userbase in Tier-II, Tier-III Indian cities

Tier-II cities like Ahmedabad, Lucknow, Patna have reported an average growth of 2950%

Additionally, a big percentage of women from Tier-II and Tier-III cities have also joined the crypto exchange, WazirX (REUTERS)Premium
Additionally, a big percentage of women from Tier-II and Tier-III cities have also joined the crypto exchange, WazirX (REUTERS)

India cryptocurrency exchange, WazirX has reported a 2648% growth in user signups from Tier-II and Tier-III cities of India. The exchange claims that over 7.3 million users have registered on the platform and it has clocked over $21.8 billion in trading volume in 2021 till date.

According to a statement released by the company, Tier-II and Tier-III cities have driven almost 55% of total user signups on WazirX in 2021. Tier-I cities demonstrated a signup growth of 2375%, according to data released by the company.

The release cited Razorpay to establish that Tier-II and Tier-III cities contributed to around 54% of digital transactions on its platform in 2020, thereby showing a 92% growth in a year.

Tier-II cities like Ahmedabad, Lucknow, Patna have reported an average growth of 2950% whereas Tier-III cities like Ranchi, Imphal, Mohali have reported an average growth of 2455% on WazirX.

Speaking on the development,Nischal Shetty, CEO of WazirX said, “Crypto has immense potential to remove the financial barriers for rural India, and provide cheaper access to capital, more online jobs. At WazirX, our goal is to create a secure crypto ecosystem that takes the vision of Digital India forward by transforming the country into a digitally empowered society and knowledge economy."

Additionally, a big percentage of women from Tier-II and Tier-III cities have also joined the crypto bandwagon. The statement released by the company claims that women from these regions contribute to 65% of the total signups by women from all over the country.

WazirX offers a seamless, powerful and super fast trading experience is on a mission to make crypto accessible to everyone in India. The platform will reiterate the same during the Indian Independence Week 2021 by collaborating with spectacular Indian crypto projects who are putting India on the world map. Starting from 11th August 2021, the team has organized a week-long giveaway to thank the crypto tribe, and support home-grown projects and talent.

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Published: 11 Aug 2021, 10:50 PM IST
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