By George Ward
Serving The Global Crypto Market
CoinDCX, the famous Indian crypto exchange, is expanding access to its self-custody wallet, Okto. Hence, the firm is collaborating with Transak, a leading digital asset trading platform, to achieve this objective.
This partnership will enable Okto to reach more people worldwide. Okto is a unique crypto wallet that allows users to store various types of digital.
CoinDCX introduced Okto in August 2022, and the platform will likely become more powerful now that Transak is on board. Following this collaboration, Okto can now be used in 155 different countries worldwide, up from the previous 60 it served after its launch.
Furthermore, Okto has made its platform seamless for users to purchase digital currencies such as BTC without using third-party apps. Fiat currencies, such as the USD, the Euro, and the Hong Kong dollar, can also be used on the Okto trading platform.
Users do not need to visit other websites or use third-party apps to purchase cryptocurrency. This innovative approach is possible thanks to Transak, a unique tool enabling seamless transactions.
Previously, users could only get crypto assets on Okto by sending them from another wallet, such as MetaMask. With the latest integration, purchasing cryptocurrencies is much more accessible for anyone who uses Okto.
Storing Assets Across Multiple Chains
Even though Transak allows users to store more than 150 tokens, Okto supports over 995 tokens from chains like Avalanche, Fantom, and Polygon. It is worth noting that the information is sourced from the app’s description on the App Store.
However, a spokesperson for Okto stated that users can store nearly 3,000 tokens in their wallets. Even though Okto announced the news of Transak support on October 5, the company had been laying the ground for the work on the on-ramp solution a few months prior.
In addition, some users in India reported having issues with Transak in August 2023. According to a company spokesperson, this incident occurred during Okto’s initial testing phase.
The spokesperson added that the integration process started in April 2023 before the official launch last month.
Transak’s Web3 Dominance
Transak has become a critical player in the Web3 space by revolutionizing payment systems globally. The company has carved a niche as the go-to on-ramp solution provider within the cryptocurrency industry, aiming to bridge the gap between traditional finance and the fledgling digital assets landscape.
Transak’s services have been seamlessly integrated into the frameworks of prominent platforms such as Coinbase, MetaMask, and PancakeSwap, proving the firm’s widespread recognition and trustworthiness. The Web3 solutions provider recently unveiled a cutting-edge integration with Tonkeeper, the official wallet of The Open Network (TON).
This significant development marks Transak’s entry into the dynamic TON ecosystem, opening up many opportunities for users worldwide. Additionally, Tonkeeper users can now easily acquire Toncoin (TON) using fiat currencies from over 150 jurisdictions, increasing the accessibility and usability of the TON token globally.
Moreover, the collaboration between Transak and Tonkeeper is a significant milestone for both platforms, expanding the ease with which users worldwide can explore the crypto space. It also demonstrates the commitment of the two platforms to democratizing access to digital assets and promoting inclusivity in the rapidly evolving blockchain ecosystem.
Despite regulatory irregularities globally, the crypto and blockchain industry continues to expand rapidly.