WazirX, India’s biggest cryptocurrency exchange, on May 31 announced India’s first marketplace for trade of non-fungible tokens or NFTs.
Vishakha Singh, Advisor, NFT Marketplace at WazirX said: “Our list of curated collectors and the 5 Million strong WazirX Crypto Community shall give us the impetus needed to grow the NFT community within the region.”
Here is all you need to know:
– The marketplace already has 15 creators and has received more than 15,000 applications from collectors and creators.
– It is being run on the Binance Smart Chain platform created by blockchain platform and WazirX’s parent company Binance.
The latest directive comes against the backdrop of some banks and regulated entities citing the circular and cautioning customers against dealing in virtual currencies.
The circular pertaining to virtual currencies was issued by the Reserve Bank of India (RBI) on April 6, 2018, and the same was set aside by the Supreme Court on March 4, 2020. As per the 2018 circular, entities regulated by RBI were prohibited from “providing any service in relation to virtual currencies including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies”.
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