Indian Crypto Exchange WazirX Temporarily Suspends Fiat Withdrawals Due to Payment Partner Bank Issues

08/26 08:40

India's largest crypto exchange by volume, WazirX, has temporarily suspended fiat withdrawals due to complications with its payment partner bank. The exchange has partnered with an alternate provider and a phased rollout is underway, but no ETA has been given for the resumption of INR withdrawals. Customers can still use the P2P option to sell their crypto assets to other users on the platform. WazirX's native token, WRX, has seen a decline in price, but its trading volume has increased by over 565% in the past 24 hours. Earlier this month, WazirX faced regulatory trouble after a $32.7 million money laundering scheme was discovered.

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