Oct 05, 2023

CoinDCX Exchange Supports 155 Countries with Self-Custody Wallet

CoinDCX Exchange expands self-custody wallet to support 155 countries with Crypto Com Coin.
CoinDCX exchange expands self-custody wallet to support 155 countries

Major Indian Crypto Exchange Integrates Transak Platform

CoinDCX, a major Indian cryptocurrency exchange, has announced the expansion of its self-custody wallet, Okto, by integrating the on-ramp platform Transak. The integration is available immediately, and it has increased the number of supported countries from 60 to 155 jurisdictions.

Okto, which was launched in August 2022, now allows users to buy cryptocurrencies such as Bitcoin (BTC) directly on the wallet, using a number of fiat currencies including the U.S. dollar, the euro, and the Hong Kong dollar.

Neeraj Khandelwal, co-founder of CoinDCX and Okto, stated that the integration of Transak has been a great step forward for the wallet, as it provides customers with a secure and convenient way to access the crypto space.

Crypto On-Ramp Solution on Okto

Transak is the first and currently the only on-ramp solution available on Okto, as noted by Khandelwal. Prior to this integration, the only way to send crypto to Okto was through an external wallet like MetaMask, Khandelwal added, saying:

Transak supports around 160 tokens, while Okto allows users to store more than 1,000 tokens across multiple chains, like Polygon, Fantom, Avalanche, and others, according to the app’s description on the App Store. However, a spokesperson from Okto mentioned that users can store up to 3,000 tokens in the wallet.

Okto announced the news about the Transak support on October 5th, but the process of rolling out the on-ramp solution had already started a few months ago. Some users in India reported having issues with Transak as early as August 2023, while Okto was still testing the on-ramp solution. “The process of integrating began in April 2023,” a spokesperson from the firm told Cointelegraph, adding that the official rollout to all customers occurred in mid-September.

Transak is a global Web3 payment and onboarding infrastructure provider, connecting traditional finance and digital assets. It is a popular on-ramp solution in the crypto industry, with platforms like MetaMask, Coinbase, PancakeSwap, Crypto.com, Algorand, Aptos, Ali Crypto, BarnBridge Crypto, AMP Crypto Today, and Crypto Breaking using its services.

This week, Transak made headlines by integrating with The Open Network’s (TON) Tonkeeper wallet. This integration allows users to purchase Toncoin (TON) using fiat currency from over 150 countries, making Transak an important part of the TON crypto ecosystem.

By introducing the crypto api, Transak has joined the likes of Ali Crypto, Barnbridge Crypto, Crypto.com, Algorand Crypto, Aptos Crypto, Crypto.com Coin, Amp Crypto Today, Crypto Breaking, and Crypto Fraud, in providing users with a secure and reliable way to buy cryptocurrency.
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