WazirX, an Indian crypto exchange, has announced the publishing of its Proof of Reserves (POR). It is believed that the initiative aims to promote transparency in India’s crypto ecosystem. Reportedly, the exchange has made its wallet addresses, list of exchanges and an independent POR report available to the public.
According to the exchange, through the publication of its PoR, it intends to reassure customers that their funds and virtual digital assets remain safe, with enough liquidity to serve the customers’ withdrawal requests.
“By making our wallet addresses, list of exchanges, and independent Proof of Reserves report available to the public, we hope to provide our users with the trust and security,” Rajagopal Menon, vice-president, WazirX, said.
Going by WazirX’s official website, it is an India-based crypto exchange platform that allows users to buy, sell, and trade various crypto assets such as Bitcoin, Ether, Litecoin, among others. The exchange claims to have over 15 million users.