WazirX has unveiled ‘BUIDL With WazirX’ to allow crypto entrepreneurs to build their own exchange programmes. With BUIDL — crypto version of the term ‘build’ — India’s largest crypto exchange has asserted that it aims to take the ecosystem to the next level by helping aspiring entrepreneurs navigate the landscape.
The platform will provide various tools and capabilities to entrepreneurs by releasing its APIs, thereby giving them access to over 300 trading pairs, as revealed by the company.
While WazirX is the first Indian cryptocurrency exchange to roll out this initiative, others like Giottus are also following suit.
Siddharth Menon, co-founder and COO at WazirX, said, “The goal is to expand the ecosystem to cover the underserved niches in the Indian market as effectively as possible. We envisage talented entrepreneurs with fire in their bellies to utilise this programme as a springboard to create their own businesses for solving challenges and propelling the country’s growth trajectory.”
Furthermore, WazirX has also revealed that crypto entrepreneurs will also receive technical assistance and guidance in developing product modules and counselling on KYC and AML compliance concerns. In addition, the homegrown crypto exchange will also assist entrepreneurs in obtaining funding by connecting them with eager venture capitalists. It has already has partnered with a few venture capital funds to help users grow more by providing grants and funding opportunities.
“BUIDL With WazirX is a developer-focused, community-led initiative that focuses on the foundations and strives to delve further into technical and academic concerns in the sector,” WazirX said in a statement.
The entrepreneurs need to submit their Minimum Viable Product, which the WazirX mentors would subsequently review for building their exchanges with limitless potential. With the world equipping itself for Web 3.0, the Indian audience will be able to adapt to the crypto and blockchain fields with the help of this programme, the statement read.