WazirX to launch decentralised exchange next month SECTIONS Share ETtech WazirX cofounder Nischal Shetty India’s largest cryptocurrency exchange by volume, WazirX, is on an advanced stage to launch a decentralised exchange of its own, cofounder Nischal Shetty said. Unlike a centralised setup, where an exchange is the custodian of a customer’s cryptocurrency and controls who can or cannot open an account on it, a decentralised exchange operates without an intermediary organisation for clearing transactions. The trades are executed on self-executing smart contracts. It is like building software where peer-to-peer crypto trades can be facilitated, Shetty told ET. The decentralised exchange is currently undergoing tests and will be launched next month.