
Indian crypto exchange WazirX to raise $20 million to $30 million in a seed financing round. The funding round proposes to value the startup at about $200 million.
The startup’s eponymous blockchain, which is currently in testnet, aims to be EVM compatible and use proof-of-stake and proof-of-quorum consensus mechanisms to reduce network costs. It also relies on three types of nodes in its network- validator, archival, and standby. According to two sources familiar with the matter, the startup intends to begin by targeting Indian and emerging markets. It plans to launch the mainnet in the third quarter, beginning in October, and to issue over 500 million SHM tokens, according to the deck.








