Indian crypto trading platform WazirX has said that the first phase of INR withdrawals in Indian rupees is open, and all eligible users can withdraw up to half of the 66% available limit on their INR balance. In addition, the platform has also reduced withdrawal fees by 60%, from INR 25 to INR 10, to simplify the withdrawal process.
WazirX Releases Important Announcement on Next Steps for Withdrawal of Indian Rupee and Cryptocurrency: For Cryptocurrency Balance, Users were unable to withdraw Cryptocurrency from Platform Account for a period of time, WazirX did not have enough Token Assets to repay the debts arising from Token Balance owed by Platform Users due to cyber attack and theft of ERC-20 Tokens. Subsequent application for Bankruptcy Restructuring will be filed with Singapore High Court for fair allocation of Cryptoc...
India's central bank RBI has revealed that 5 million digital rupee users and 420,000 merchants are participating in the retail central bank digital currency (CBDC) pilot as of June. The RBI highlighted that the digital rupee is designed to complement cash and existing payment systems to serve the wholesale and retail sectors.