CoinDCX Expands Self-Custody Wallet Okto to Support 155 Countries

Major Indian cryptocurrency exchange CoinDCX is enhancing its self-custody wallet Okto by integrating with on-ramp platform Transak, allowing for global expansion.

Expanding Global Support

Okto wallet, a multichain cryptocurrency wallet launched by CoinDCX in August 2022, has integrated the Transak platform to scale the wallet's global support. CoinDCX and Okto co-founder Neeraj Khandelwal stated that the integration is now available on Okto.

With the incorporation of Transak, the Okto wallet's supported countries have increased from 60 to more than 155 jurisdictions.

Buy Cryptocurrencies Directly on Okto

By integrating Transak, Okto users can now purchase cryptocurrencies like Bitcoin (BTC) directly on the wallet using various fiat currencies, including the U.S. dollar, euro, and Hong Kong dollar.

Seamless Fiat to Crypto Conversion

Previously, users had to transfer funds from another decentralized wallet, such as MetaMask, to convert fiat to crypto on Okto. However, with the Transak integration, the process has become seamless, allowing for direct fiat to crypto conversion within the app.

Token Storage and Integration Timeline

While Okto supports over 1,000 tokens across multiple chains, including Polygon, Fantom, and Avalanche, the wallet spokesperson clarified that users can have up to 3,000 tokens on the wallet.

The integration of Transak began in April 2023, although some online users in India reported issues with Transak as early as August 2023 when Okto was testing the on-ramp solution on its platform.

Transak's Reputation in the Cryptocurrency Industry

Transak is a global Web3 payment and onboarding infrastructure provider, and a popular on-ramp solution utilized by platforms such as MetaMask, Coinbase, and PancakeSwap. The integration with Okto marks Transak's entry into CoinDCX's ecosystem.

Note: This is a rewritten article for a UK audience based on original content.