India’s WazirX proof of reserves shows largest holding is Shiba Inu (SHIB)

WazirX, India’s largest crypto exchange, has published its proof of reserves (POR), making public its wallet addresses, exchanges and POR report.

In an announcement on Wednesday, WazirX said the publication of its proof of reserves is a show of its commitment to promoting trust and security in India’s crypto ecosystem as the broader industry looks to enhance full transparency.

WazirX’s POR are published via crypto asset tracking platform Coin Gabbar, with details showing the Indian exchange’s reserves-to-liability ratio is currently over 1:1.

As of this report, the total reserves stood at $283 million. Roughly $257 million are on the exchange, while $26.46 million are blockchain holdings.

While the reserves update in real time, the latest snapshot shows the largest percentage of holdings are in Shiba Inu (SHIB). As per data on Coin Gabbar, WazirX currently holds about 6.09 trillion SHIB tokens valued at $53.8 million and accounting for 19.01% of total holdings.

Read More: https://invezz.com/news/2023/01/11/indias-wazirx-proof-of-reserves-shows-largest-holding-is-shiba-inu-shib/

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