Several countries are facing cryptocurrency banking restrictions aside India which had its central bank, the Reserve Bank of India (RBI) restrict banking services to cryptocurrency users. WazirX has been developing a platform that would help people with banking limitations access the crypto market and change their cryptocurrency to fiat conveniently.
According to a blog post
“We launched WazirX P2P with the objective of solving the Fiat <> Crypto problem in India. Over time, we’ve realized that the banking problem is not an isolated incident in India.”
The platform recently announced that it has been working hard to accomplish what no one else has done in the crypto industry and has actually succeeded in having a strong partner in Binance. This makes it possible for millions of users to have access to the WazirXP2P platform.
Nischal Shetty, the CEO of WazirX wrote:
“I’m proud to announce that starting next week, Binance users will be able to transfer funds quickly and instantly between their Binance and WazirX accounts.”
The deep integration between the two platforms means that you do not have to own a WazirX account to transfer USDT from your WazirX wallet to Binance and vice versa.
The release stated that this service would be rolled out for Indian users in coming weeks and other countries would be supported subsequently.