- WazirX voting ends August 6 with third-party oversight ensuring secure, tamper-proof process.
- Alvarez & Marsal to verify votes before Zettai seeks court approval for the Amended Scheme.
- Zanmai to enable token access within 10 business days after court sanctions the scheme.
Voting on the Amended Scheme of Arrangement for WazirX users is currently underway and set to conclude on August 6, 2025, at 7:30 PM IST. The exchange has detailed a multi-step, independent system created to ensure the process remains transparent and secure. Once all legal requirements are met, eligible users will have access to tokens.
WazirX has adopted the Kroll Issuer Services (KIS) platform to manage the collection and storage of votes. KIS, recognized for its ability to manage liability and corporate action solutions, hosts a secure, tech-enabled interface accessed directly via the WazirX platform. According to the report, each vote cast during the period is authenticated, timestamped, and stored in a protected system that is intended to prevent unauthorized tampering or manipulation.
Once the voting window closes, KIS will transfer all voting data to independent assessors for verification. The two appointed assessors, Joshua Taylor and Henry Anthony Chambers of Alvarez & Marsal (A&M), will receive the full voting dataset. Taylor and Chambers are experienced professionals in restructuring and forensic accounting, respectively, with A&M providing advisory and verification services across various industries globally.
Independent Verification and Reporting Procedures
The independent assessors will examine the voting records to ensure accuracy and integrity throughout the process. Their review will include confirmation of vote authenticity and compliance with the required procedures. After completing this verification, the assessors will issue an official report detailing their findings.
Zettai, the company overseeing the Scheme, along with the appointed Scheme Manager, will receive this report. Once the verified results are delivered, Zettai will formally notify all Scheme Creditors of the outcome.
Final Approval and Token Access Timeline
Given that the independent verification has been concluded, Zettai is now likely to approach the Singapore court, seeking to obtain the court’s sanction on the Amended Scheme of Arrangement after the requisite majority approval has been secured amongst the voting participants. Once the court makes the decision, the exact date of the Amended Scheme will become effective.
After the court approves the scheme, Zanmai, one of the FIU-IND-regulated entities, will grant users access to eligible tokens. WazirX has stated that this will be achieved within ten business days of the scheme’s effective date.
