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CoinDCX further enhances its self-custody wallet, Okto, by integrating Transak, a major on-ramp platform. This integration allows Okto to scale its global support and increase the number of supported jurisdictions from 60 to 155.
In addition to expanding its reach, Okto seamlessly enables users to convert fiat to crypto within the app, Cointelegraph reported.
Enhancing CoinDCX's Okto Wallet
According to Investing, CoinDCX's Okto wallet, a multichain cryptocurrency wallet launched in August 2022, has undergone major enhancements with the integration of Transak. This integration strengthens Okto's global reach and support for various jurisdictions.
With the integration of Transak into Okto, the wallet's previously supported 60 countries have now expanded to 155 jurisdictions. CoinDCX and Okto co-founder Neeraj Khandelwal express their excitement about this development, highlighting the increased accessibility for users worldwide.
Buying Cryptocurrencies Made Easy
Before this integration, Okto users had to rely on external wallets to send cryptocurrencies like Bitcoin. However, with Transak's integration, users can now purchase cryptocurrencies directly on Okto using a variety of fiat currencies, including the U.S. dollar, the euro, the Hong Kong dollar, and more.
Transak brings several advantages as the first and only on-ramp solution introduced on Okto. While supporting around 160 tokens, Okto allows users to store more than 1,000 tokens across multiple chains, including Polygon, Fantom, Avalanche, and others.
Simplifying Fiat-to-Crypto Conversions
The integration of Transak simplifies converting fiat currencies to cryptocurrencies within the Okto app. Previously, users had to rely on external decentralized wallets like MetaMask to transfer funds. Okto now acts as an all-in-one solution for storage and fiat-to-crypto conversions.
Integrating Transak into Okto began in April 2023 and involved a comprehensive testing phase. While the official rollout to all customers occurred in mid-September, some users in India reported experiencing issues with Transak as early as August 2023.
Earlier this week, Transak announced an integration with The Open Network's (TON) wallet known as Tonkeeper. The event marked Transak's entry into the TON ecosystem, enabling the wallet to buy Toncoin (TON) directly with fiat from more than 150 countries.
Photo: Kanchanara/Unsplash
