TechFlow, June 4 — According to Cointelegraph, WazirX, a cryptocurrency exchange primarily serving Indian users, is relocating its operational headquarters from Singapore to Panama and renaming its parent company Zettai to Zensui.
The move comes after a Singapore court rejected the company's restructuring plan. In an email sent to users, WazirX stated that its parent company has registered a subsidiary, Zensui Corporation, in Panama and is preparing to transfer the platform's cryptocurrency-related services to this entity.
Previously, the Monetary Authority of Singapore set June 30 as the deadline requiring local crypto service providers to cease offering digital token services to overseas markets.
WazirX said it does not intend to apply for an operating license in Singapore or register with India's Financial Intelligence Unit, despite serving Indian customers.
