WazirX futures trading volume surges 236% in Q3 as exchange expands AI tools

Expansion of futures trading

Indian cryptocurrency exchange WazirX said its futures trading volume rose 236 per cent between the beginning of July and the end of September, as it expanded derivatives offerings, introduced AI-powered trading tools and stepped up tax-reporting and compliance features.

Trading volume at its September peak was about 345 per cent above early-July levels, while the number of daily futures traders was approximately 279 per cent higher toward the end of the quarter, the company said in a statement on Friday.

The exchange's July-September expansion included the launch of USDT-denominated perpetual futures with Indian rupee margin, an AI trading assistant, automated margin top-ups and a free cryptocurrency tax-reporting platform. The developments reflect a push to broaden access to derivatives trading while giving users more tools to manage positions and track transactions.

Integration of new margin products

WazirX introduced INR-margined crypto-USDT futures in August, allowing users to trade supported USDT-denominated contracts without first converting rupees into USDT. INR markets continued to account for the majority of futures participation, although USDT contracts contributed about 20-35 per cent of daily trading volume on some days in September, depending on market movements, the company said.

USDT's share of participating traders rose through the quarter to about 15-18 per cent by the end of September. WazirX also said winning trades accounted for more than 60 per cent of all trades, without providing further details on the calculation or the period covered.

Artificial intelligence tools

The exchange launched WazirX AI, a trading assistant designed to help users analyse market movements, review portfolios, navigate the platform and place trades through a single interface. Its paper-trading feature allows users to test strategies without committing real money.

In September, the assistant was expanded to support USDT perpetual futures, portfolio views by currency and realised profit-and-loss information for closed positions. The company also introduced a future voice assistant in English and Hindi.

WazirX added take-profit and stop-loss controls to its web platform and introduced an automatic margin top-up feature that can transfer funds from a user's available futures wallet balance to an eligible position when additional margin is required.

Such tools can help traders manage positions, but they do not eliminate the risks associated with leveraged derivatives, where adverse price movements can result in substantial losses.

“The growth we saw in Futures during the quarter reflects a clear demand for trading products that are accessible, flexible and designed around the needs of Indian users,” said Rajagopal Menon, vice president at WazirX. “Our focus, however, is not simply on expanding market access. It is equally important to give users greater control. We are working to make participation in crypto more informed and transparent,” he said.

Tax compliance and campaigns

WazirX also launched TaxLyst, a free crypto tax-reporting platform that allows users to consolidate transaction histories from the exchange and other supported platforms, calculate gains and losses, and generate tax-ready reports.

The exchange updated downloadable trade reports to display users' names and permanent account numbers (PAN) instead of email addresses and member IDs, making the documents more suitable for tax and transaction records.

The initiative comes as crypto investors face record-keeping and tax-reporting obligations across transactions and platforms. A consolidated reporting tool could simplify compliance, although users remain responsible for ensuring that their records and tax calculations are accurate.

WazirX announced combined rewards of about 1.04 crore across its Futures First Challenge and seven P&L Arena contests launched during the quarter, creating more than 10,000 potential reward opportunities, according to the company.

It also introduced the Gangs of Cryptopur campaign, featuring actor Tigmanshu Dhulia as Ramadhir Singh. The campaign sought to encourage users to understand trades rather than rely on unverified tips or short-term market excitement.

The latest initiatives underscore the exchange's effort to combine product expansion with investor engagement, record-keeping and compliance features as crypto platforms compete for trading activity in India.