Wallex
Wallex is an Iranian centralized cryptocurrency exchange serving domestic retail and professional traders with spot trading, 10X margin, P2P instant trading, staking, credit facilities, and trading bots across 320+ markets.
- Company typePrivate
- Founded2018
- HeadquartersTehran, Iran
- Headcount251–500
- GTM typeB2C
- OfferingSoftware
What Wallex does
Wallex is an Iranian centralized cryptocurrency exchange operating under the legal entity Parse Land Wealth Creation Company (شرکت خلق ثروت سرزمین پارسه). It serves domestic Iranian retail and professional crypto traders through a self-serve platform that includes spot trading, margin trading with up to 10X leverage, an OTC/instant P2P trading desk, automated trading bots (Grid, Martingale, Infinity Grid, Smart Rebalance), staking plans across major assets, and credit facilities (Trade Credit up to 400M Tomans, Instant Loan, Asset Loan). The platform supports 320+ trading pairs across TMN and USDT bases covering 230+ cryptocurrencies, with distribution via web (wallex.ir), iOS, and Android apps, plus REST API access documented at developers.wallex.ir. Technical infrastructure includes cold wallet storage, two-factor authentication, SSL encryption, and multi-layer firewalls; KYC onboarding is completed in under five minutes.
The business model is product-led growth targeting a long tail of individual traders, monetized primarily through tiered trading commissions (0.35% standard decreasing to 0.2% on trailing-3-month volume), OTC spreads on the P2P instant market, and interest/fee income on credit products. The exchange is positioned as a compliant domestic alternative for Iranian users blocked from international platforms by sanctions, marketed through Telegram, Instagram, a referral program, daily airdrops, and Persian-language SEO content. Wallex reports 5M+ registered and 1M+ active users and operates multiple offices in Tehran plus a regional site in Zahedan.
Beyond the core exchange, the Wallex group operates wholly-owned subsidiaries in adjacent financial services: Wallgold (digital gold conversion), Zima (crowdfunding), Jeyhoon (supply chain financing), and Andarz (educational technology). The legal entity is privately held with no disclosed institutional investors, funding rounds, or parent company.
Wallex firmographics
Firmographics- Name
- Wallex
- Legal name
- شرکت خلق ثروت سرزمین پارسه (Parse Land Wealth Creation Company)
- Website
- https://wallex.ir
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Wallex is an Iranian centralized cryptocurrency exchange serving domestic retail and professional traders with spot trading, 10X margin, P2P instant trading, staking, credit facilities, and trading bots across 320+ markets.
- Ownership category
- akta.pro rank
Wallex industry classification
Industry- Product category
- Cryptocurrency Exchange
- NAICS
- Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (52321)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)
- akta.pro secondary industries
- Margin Trading & Collateralized Borrowing (Exchange-Operated) (FSADAAAL), OTC Spot Trading & Block Execution (FSADAJAB), Centralized Crypto Lending Platforms (CeFi) (FSADAFAA), On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE)
Keywords
Where Wallex is headquartered
LocationHeadquarters
- HQ city
- Tehran
- HQ country
- Iran
- HQ region
- Middle East
Offices4 records
Markets served
Wallex business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Trading Commissions: Wallex charges trading commissions on spot and margin trades. Commission starts at 0.35% and decreases to 0.2% based on user's trading volume over the trailing 3 months. Instant/OTC trading is offered commission-free as a promotional feature.
- Instant/OTC Trading Spread: The platform operates as a P2P OTC marketplace where prices are set by buyers and sellers, with Wallex acting as intermediary and earning through spreads.
- Trading Credit Services: Provides leveraged trading credit up to 400 million Tomans for margin trading, generating revenue from interest/fees on borrowed capital.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard tier - 0.35% commission |
| Transaction based/ take rate | Pay-as-you-go | Instant/OTC trading - 0% commission |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
Wallex product offering
Product offeringCore offering
Wallex operates a centralized cryptocurrency exchange enabling Iranian users to trade spot, margin (up to 10X leverage), and OTC/instant markets across 320+ trading pairs in Iranian Toman (TMN) and USDT. The platform offers free automated trading bots, staking for major cryptocurrencies, and credit facilities up to 400 million Tomans, all backed by cold-wallet storage and two-factor authentication. It serves as the domestic Iranian alternative to international exchanges, which are largely inaccessible due to sanctions.
Product overview
Wallex is a cryptocurrency exchange platform providing a comprehensive suite of trading products. The core offering includes spot and margin trading with up to 10X leverage, plus an OTC/instant trading desk. Supporting products include trading bots (Margin Grid, Spot Grid, Martingale, Infinity Grid, Smart Rebalance), staking plans for gold and cryptocurrencies, and credit facilities (Trade Credit, Instant Loan, Asset Loan). The platform operates across TMN and USDT base markets with 320+ trading pairs. Wallex Group includes subsidiary brands: WallGold (digital gold), Zima (crowdfunding), Jeyhoon (supply chain financing), and Andarz (educational platform).
Differentiator
Problem solved
Functional benefit
Brands
- Wallgold (والگلد): Digital gold platform enabling online conversion of cryptocurrencies to minted gold
- Zima (زیما)
- Jeyhoon (جیحون)
- Andarz (اندرز)
Products and services
- Spot Trading
Quantifiable outcome
- Over 1 million active users
- +3 more outcomes
Companies that use Wallex
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Wallex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Wallex partnerships and signals
Strategic signalScale indicators6 records
Recent moves6 records
Expansion highlights5 records
Wallex competitors and assessment
Company assessmentDirect peers
- Bitpin: Iranian centralized crypto exchange providing spot and OTC trading in TMN and USDT, targeting Iranian retail and professional traders. Closely comparable to Wallex in geography, customer base, and product offering.
- Nobitex: Iran's largest centralized cryptocurrency exchange, offering spot, margin, and OTC trading in TMN and USDT. Direct competitor to Wallex in the same Iranian retail-trader segment with a comparable product breadth and regulatory positioning.
- Tabdeal: Iranian cryptocurrency exchange offering spot trading, TMN/USDT pairs, and basic trading tools to Iranian users. Directly comparable to Wallex in target market and product category.
- Aban Tether: Iranian digital asset exchange focused on stablecoin and crypto trading for Iranian users. Comparable niche and customer base to Wallex, especially on the on/off-ramp side.
Broad incumbents
- Binance: Global centralized cryptocurrency exchange offering spot, margin, OTC, staking, and lending products. Identical core product set to Wallex but at vastly larger scale; blocked from serving Iranian users, which is precisely Wallex's defensive moat.
- KuCoin: Global centralized exchange offering spot, margin, futures, staking, and trading bots. Functionally similar to Wallex's product surface but at much larger scale and broader geographic reach.
- OKX: Global centralized crypto exchange with spot, margin, derivatives, and bot-based trading. Comparable product architecture to Wallex; blocked from Iranian users, reinforcing Wallex's local positioning.
- Coinbase: U.S.-listed centralized crypto exchange offering spot trading, staking, and custody. Overlapping product capabilities with Wallex, but a regulated U.S. incumbent that does not serve Iranian users.
Regional players
- BitOasis: MENA-region centralized crypto exchange targeting retail and professional traders with spot trading and local fiat rails. Comparable to Wallex in business model but operates in GCC jurisdictions rather than Iran.
- Rain (BitOasis Group): Licensed Middle East (Bahrain) crypto exchange serving retail users across the GCC. Comparable business model and product surface to Wallex but operates in a different regulatory regime and geography.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Wallex social profiles
Digital presenceWallex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wallex leadership team
Management profileNumber of profiles
Wallex subsidiaries and ownership
Company hierarchySubsidiaries4 records
Wallex funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wallex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wallex
What does Wallex do?
Wallex operates a centralized cryptocurrency exchange enabling Iranian users to trade spot, margin (up to 10X leverage), and OTC/instant markets across 320+ trading pairs in Iranian Toman (TMN) and USDT. The platform offers free automated trading bots, staking for major cryptocurrencies, and credit facilities up to 400 million Tomans, all backed by cold-wallet storage and two-factor authentication. It serves as the domestic Iranian alternative to international exchanges, which are largely inaccessible due to sanctions.
Is Wallex a public or private company?
Wallex is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Wallex founded?
Wallex was founded in 2018. It employs 251 to 500 people.
Where is Wallex based?
Wallex is headquartered in Tehran, Iran, in the Middle East region.
How does Wallex make money?
Three revenue lines are on record. Trading Commissions are the primary driver. The others are instant/OTC Trading Spread and trading Credit Services.
Who are Wallex's main competitors?
Direct peers on record are Bitpin, Nobitex, Tabdeal and Aban Tether. Broad incumbents are Binance, KuCoin, OKX and Coinbase. Regional players are BitOasis and Rain (BitOasis Group).
Does Wallex have an API?
Yes. Wallex provides both public and private API access. The API allows users to access all features of the Wallex platform programmatically. Documentation is available at developers.wallex.ir. Users can access API documentation in both public and private formats. Developer documentation is at developers.wallex.ir.
What industry is Wallex in?
Wallex's product category is Cryptocurrency Exchange. Its primary akta.pro industry code is FSADAAAA, Spot Crypto Exchanges (Order-Book & Matching Engine), with a secondary code of FSADAAAL, Margin Trading & Collateralized Borrowing (Exchange-Operated). Its NAICS code is 523210 and its SIC code is 6200.