WazirX wins 95% creditor backing in second restructuring vote

WazirX wins 95% creditor backing in second restructuring vote originally appeared on TheStreet.

WazirX has secured another decisive green light from its users.

More than 95% of participating creditors have backed an Amended Scheme of Arrangement in a second round of voting, signaling strong confidence in the exchange’s proposed restructuring.

According to Zettai Pte Ltd., which oversees the process, 95.7% of creditors by count and 94.6% by value of claims voted in favor of the plan, surpassing both statutory thresholds and even the strong outcome from the previous round.

The voting window ran between July 30 and August 6, with eligibility tied to users holding positive crypto balances on July 18, 2024.

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In total, 149,559 Scheme Creditors took part, representing more than $206.8 million in approved claims. Of those, 143,190 creditors backed the plan, giving management a clear mandate to move forward.

Nischal Shetty, founder of WazirX, called the results proof of the platform’s strategy.

"A second round of voting having such strong numbers is a testament to our approach towards the restructuring which has been fair, transparent, and the quickest option for users to recover funds," Shetty said.

Shetty added:

"This has been an incredibly challenging year for all of us, and we are deeply grateful for the unwavering trust and support we've received throughout this journey. Should the Singapore Court sanction the Scheme, we are committed to restarting operations within 10 business days of the scheme taking effect."

The vote count was verified by independent assessors Joshua Taylor and Henry Anthony Chambers of Alvarez and Marsal, who confirmed the results in an official report.

With the vote behind it, Zettai’s next step is to file with the Singapore Court for approval. If sanctioned, the Amended Scheme will allow the first distribution of crypto balances within 10 business days, giving users long-awaited access to their holdings.

The latest round shows an uptick in support, up roughly 2.7% in creditor participation compared to the prior vote. Under Singapore law, the statutory requirement is only a majority by count and 75% by claim value, making this outcome a resounding endorsement.

For now, all eyes turn to the Singapore Court, where the future of WazirX’s recovery roadmap will be decided.

WazirX wins 95% creditor backing in second restructuring vote first appeared on TheStreet on Aug 18, 2025

This story was originally reported by TheStreet on Aug 18, 2025, where it first appeared.

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