Major Indian cryptocurrency exchange CoinDCX is expanding its Okto self-custodial wallet by integrating its Transak main platform.
Okto Wallet, a multi-chain cryptocurrency wallet Launched Founded by CoinDCX in August 2022, CoinDCX has integrated the Transak platform to expand global support for the wallet, the company announced to Cointelegraph on October 5. The company said the integration is available immediately on Okto.
With the founding of Transak, the Okto wallet has increased the number of previously supported 60 countries to more than 155 jurisdictions, said Neeraj Khandelwal, co-founder of CoinDCX and Okto.
By integrating Transak, Okto now specifically allows users to purchase cryptocurrencies like Bitcoin (BTC) directly on Okto, using a large number of fiat currencies. Included US dollar, euro, Hong Kong dollar, etc.
Khandelwal noted that Transak is the first and currently only solution introduced on the on-ramp at Okto. Before this integration, the only way to send cryptocurrency to Okto was to send cryptocurrency from an external wallet like MetaMask, Khandelwal added:
“The Transak integration now allows users to convert fiat currencies to cryptocurrencies seamlessly within the app. Before this integration, users had to transfer funds from another decentralized wallet, such as Metamask.
While Transak supports around 160 tokens, Okto Allow Users can store more than 1,000 tokens across multiple chains, including Polygon, Fantom, Avalanche and others, according to the app’s description on the Apple Store. However, according to an Okto spokesperson, the wallet allows users to have up to 3,000 tokens in the wallet.
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While Okto announced the Transak support news today, the live rollout of the solution began a few months ago. Some online users in India reported issues with Transak as early as August 2023, as Okto was testing the solution on-ramp on its platform. “The integration process began in April 2023,” a company spokesperson told Cointelegraph, adding that the official rollout to all clients occurred in mid-September.
Transak is a global provider of payment and onboarding services via Web3, aiming to connect traditional finance and digital assets. Transak is a popular solution in the cryptocurrency space, with platforms like MetaMask, Coinbase, and PancakeSwap leveraging its services.
Earlier this week, Transac Announce Integration with the open network (TON) wallet known as Tonkeeper. This event marked Transak’s entry into the TON ecosystem, enabling the wallet to purchase Toncoin (TON) directly with fiat currencies from over 150 countries.
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