WazirX is looking to open business with Kotak Mahindra Bank, and although sources said that a formal tie-up has been established, operations have not yet commenced. This development, first reported by Economic Times, comes eight months after MediaNama broke a story on how private banks, including Kotak Mahindra, shut off its banking services to cryptocurrency exchanges in India. Although WazirX co-founder Nischal Shetty said that that cryptocurrency exchange does not have any operational relationship with any bank, he did not categorically deny the tie-up which sources say have been made on paper. The ET story attributing to an unnamed source said that WazirX's account on Kotak will be used to pay and receive money from investors on the exchange. We have reached out to Kotak Mahindra for a comment on the matter. WazirX does not have any operational relationship with…
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