WazirX Dodges Singapore Roadblock with Sudden Panama Pivot

Facing a brick wall in Singapore courts, crypto exchange WazirX pulls a classic 'geographic arbitrage' play—relocating to Panama's friendlier regulatory shores. Another day, another jurisdiction hop in the crypto tango.

Bonus jab: Because nothing screams 'financial stability' like a shell-game with your corporate HQ.

WazirX shifts base to Panama

The legal setback comes amid a broader, controversial shift in WazirX’s corporate strategy.

The exchange, which primarily served the Indian market but was headquartered in Singapore, is relocating to Panama. Its parent company, Zettai, will rebrand as Zensui and continue operations from the Central American nation.

According to crypto analyst Sonu Jain, this decision follows Singapore’s updated regulations prohibiting unlicensed firms from offering crypto services outside the country. Jain suggested that WazirX chose to relocate rather than obtain the required licensing.

Meanwhile, the MOVE has drawn criticism within the crypto community, with influencer RK Gupta accusing the company of using the rebrand to escape regulatory scrutiny. He stated:

“This isn’t a fresh start, it’s a cover-up. A company under fire doesn’t get to just rename itself and walk away. Crypto doesn’t need cowards hiding in tax havens. It needs accountability.”