Indian cryptocurrency exchange WazirX is relocating its headquarters from Singapore to Panama and rebranding its parent company from Zettai to Zensui. This strategic move follows the Singapore High Court's rejection of WazirX's restructuring plan. Zensui, incorporated in Panama on March 10, will soon assume control of WazirX's cryptocurrency services. Zensui will also manage the issuance of recovery tokens to compensate users affected by a $235 million hacking incident in July 2024, aiming to restore 75% to 80% of their account balances. WazirX has decided against applying for crypto licenses in Singapore or India, citing Singapore's increasingly stringent regulatory environment as a factor in its decision to relocate.