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Business News/ Markets / Cryptocurrency/  WazirX launches build-your-own exchange program for crypto entrepreneurs

India’s largest crypto exchange WazirX has unveiled ‘BUIDL With WazirX’, allowing crypto entrepreneurs to build their own exchange. With BUIDL, a crypto version of the term ‘build’, WazirX aims to help aspiring crypto entrepreneurs navigate the landscape.

The platform will provide various tools and capabilities to entrepreneurs by releasing application programming interfaces (APIs), thereby giving them access to over 300 trading pairs.

Moreover, entrepreneurs will also receive technical assistance and guidance in developing product modules and counselling on Know Your Customer (KYC) and Anti Money Laundering (AML) compliance concerns.

In addition, WazirX will assist these entrepreneurs in obtaining funding by connecting them with venture capitalists. India’s largest crypto exchange in terms of volume has partnered with a few venture capital funds to help users grow more by providing grants and funding opportunities.

Commenting on the launch, Siddharth Menon, co-founder and COO at WazirX, said, “We started the programme with the goal of paving the way for the future generation of crypto entrepreneurs who wish to start their own exchange using WazirX's expertise. The goal is to expand the ecosystem to cover the underserved niches in the Indian market as effectively as possible. We envisage talented entrepreneurs with fire in their bellies to utilize this programme as a springboard to create their own businesses for solving challenges and propelling the country’s growth trajectory."

As per the company, it's a developer-focused, community-led initiative that focuses on the foundations and strives to delve further into technical and academic concerns in the sector.

The entrepreneurs need to submit their minimum viable product, which the WazirX mentors would subsequently review for building their exchanges with limitless potential.

WazirX has over 11 million users founded by Nischal Shetty, Siddharth Menon, and Sameer Mhatre.

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Updated: 25 Feb 2022, 03:25 PM IST
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