WazirX Exchange Decides to Rebrand

Indian crypto exchange WazirX, currently headquartered in Singapore, has announced plans to change jurisdiction and rebrand.

The reason for this decision was that the Indian courts did not approve the previously developed plan for restructuring the platform. According to published legal documents, the parent company of the exchange, Zettai, has already begun the process of transferring the business to a new jurisdiction. For these purposes, a subsidiary was created - Zensui Corporation, registered on March 10, 2025, in the Republic of Panama. Currently, Zettai is actively preparing to transfer its cryptocurrency services to the new company. The signed agreement is fully ready for implementation, and the transition is expected within two to three business days. The new jurisdiction and rebranding will be the starting point for further development, and will also allow the exchange to continue fulfilling its obligations to users.

One of the key areas of Zensui's activity will be the issuance of so-called WazirX recovery tokens, which will act as debt obligations. These tokens are planned to be issued to all affected customers whose funds were lost as a result of a hacker attack in July 2024, when the attackers withdrew crypto assets worth $235 million. The distribution of tokens will be proportional to the amount of lost funds, which should ensure a fair approach to compensation for damages.

The exchange also stated that it will regularly buy back these tokens from its operating profits in order to gradually reduce its obligations to creditors. Thus, the move to Panama and the rebranding represent a strategic move aimed at resuming the platform in a more favorable legal environment and restoring the trust of users who have lost access to their funds. This initiative could be an important step in the history of the exchange, especially if the new project develops in an environment of increased regulatory oversight and transparency.