This is according to an official blog post by the company on February 8, 2020. The integration is expected to take place on February 13, 2020.
This integration will bring to life a lot of new features that will prove beneficial to both BINANCE and WazirX users.
The blog post highlighted three new features this integration will foster. They include:
Users will be able to send or receive funds immediately between the two platforms.
Next, Binance users without a WazirX wallet will still be able to log into its platform with their already existing Binance account. This singular feature will open up the Indian crypto exchange to millions of users already on the Binance platform.
Finally, Binance users looking to sell or buy USDT can do so through WazirX P2P platform. Even more important is that this would be done directly on Binance exchange platform.
WazirX confirmed the integration via a blogpost. Also adding that “Millions of Binance users will be able to buy/sell USDT via our highly liquid P2P engine right from within the Binance platform”.
However, this feature will only be available to users in India. Disclosing that plans are in place to expand the feature to other countries and exchanges in the near future.
Binance and WazirX journey
Binance and WazirX first announced a partnership about three months ago. With both exchanges claiming to have the same goal of ensuring financial freedom all over the world. Looking to expand its fiat-crypto corridor, Binance acquired the exchange in November 2019. Since then it has been positive news from both sides ever since.
Early this week, Binance launchpad carried out a WazirX token sale that turned out to be a huge success. The exchange currently lists WazirX native crypto WRX for trading against BNB, USDT and BTC.
Despite the Indian government’s apparent hostility towards cryptocurrency, WazirX stands strong and relentless in achieving its goal of financial freedom for all. India’s cryptocurrency community is elated about the exchange progress and its integration with Binance. It is currently the first option for users to deposit or withdraw the Indian Rupee (INR) alongside its steady growth.
