Singapore Court Approves WazirX Restructuring Plan
The Singapore High Court has granted formal approval to WazirX’s revised restructuring plan, allowing the platform to proceed with its recovery roadmap and financial stabilization measures. The decision, announced on October 13, 2025, follows an extensive period of negotiations with creditors and a second voting round that garnered nahead 95% support, according to WazirX CEO Nischal Shetty.
The approval marks a critical turning point for the platform, which had been facing liquidity constraints, regulatory pressure, and mounting user withdrawals. The earlier version of WazirX’s restructuring plan was rejected by the court in June 2025 due to procedural issues and a lack of clarity around creditor protections. Following that setback, the platform revised its proposal, held fresh consultations, and secured overwhelming creditor approval in August.
A structured path to recovery
With the court’s approval, WazirX will now be able to implement a series of measures designed to address outstanding liabilities and improve operational efficiency. The company plans to begin a phased repayment process for users affected by withdrawal freezes earlier this year. While a detailed timeline has yet to be announced, the decision provides WazirX with a legal foundation to rebuild trust among its customers and partners.
Industry experts say the move could serve as a case study for crypto platforms operating across multiple jurisdictions. The decision highlights the importance of having a clear legal framework for digital asset restructuring—something that remains largely undefined in India’s regulatory environment. By pursuing legal protection in Singapore, WazirX has demonstrated a proactive approach to securing stability for both creditors and users.
Legal and market implications
The ruling could have ripple effects across the broader cryptocurrency industry in Asia. Analysts believe it sets a precedent for how platforms might manage insolvency or liquidity crises in the absence of domestic regulatory clarity. Singapore’s recognition of WazirX’s restructuring plan provides the platform with temporary legal protection, allowing it to fulfill repayment commitments while maintaining operations.
WazirX’s case also reflects a growing trend among Indian crypto firms to viewk regulatory refuge in more structured jurisdictions. Legal experts note that the platform’s choice of Singapore underscores the city-state’s status as a hub for blockchain and fintech innovation, known for its clear rules on insolvency, restructuring, and digital asset governance.
CEO Nischal Shetty expressed optimism following the ruling, stating that the decision validates months of hard work and collaboration between WazirX, its creditors, and legal advisors. “This approval is a step forward for our users and the broader crypto community. We’re committed to full transparency and to fulfilling all obligations in a timely manner,” he said in a post on X.
The approval may signal renewed investor confidence in India’s digital asset ecosystem, which has faced regulatory uncertainty and declining trading volumes. If WazirX successfully executes its restructuring plan, it could reestablish its position as one of India’s leading platforms and potentially attract institutional partnerships. The coming weeks are expected to bring more clarity as WazirX releases its implementation plan and outlines the next phase of its recovery strategy.
The Singapore court’s decision positions WazirX as a key example of how crypto platforms can navigate international legal systems to protect users and rebuild credibility—an essential step as India’s digital finance landscape continues to evolve.
