Crypto exchange WazirX publishes Proof of Reserve to promote transparency

Crypto exchange WazirX has published its Proof of Reserves in order to promote transparency in the crypto ecosystem.

The crypto platform has made its wallet addresses, list of exchanges, and an independent Proof of Reserves report available to the public, it said in a release on Wednesday.

WazirX's Proof of Reserves (PoR) displays the crypto startup's commitment to building trust and security within the crypto community through which it intends to provide reassurance to customers that their funds and virtual digital assets remain safe, with enough liquidity to serve the customers' withdrawal requests.

"We are committed to building India's top crypto exchange responsibly and securely, and full transparency is a key part of that commitment," said Rajagopal Menon, Vice President of WazirX, in the release.

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 they deserve," Menon added.

Further, WazirX today apprised that its reserves-to-liabilities ratio remains more than 1:1, implying sufficient liquidity for users in the event of a withdrawal.

( With inputs from ANI )