CoinDCX Integrates Transak to Expand Okto Wallet
CoinDCX, a major Indian cryptocurrency exchange, has announced the integration of Transak, a leading on-ramp platform, into its self-custody wallet Okto. This integration expands the reach of the Okto wallet from supporting 60 countries to over 155 jurisdictions. With Transak, users can now directly purchase cryptocurrencies like Bitcoin (BTC) on Okto using various fiat currencies including the U.S. dollar, euro, and Hong Kong dollar.
Prior to this integration, users could only send crypto to Okto from external wallets like MetaMask. However, the incorporation of Transak allows for seamless conversion of fiat to crypto within the app itself. Okto supports storing more than 1,000 tokens across multiple chains such as Polygon, Fantom, and Avalanche.
Rollout and Background
The process of integrating Transak into Okto began in April 2023 and was officially rolled out to all customers in mid-September. Some users in India reported encountering issues with Transak as early as August 2023 during the testing phase on Okto’s platform.
About Transak
Transak is a global Web3 payment and onboarding infrastructure provider that aims to bridge traditional finance with digital assets. It is a popular on-ramp solution in the cryptocurrency industry and is utilized by platforms such as MetaMask, Coinbase, and PancakeSwap.
Transak Expands into TON Ecosystem
In addition to its integration with CoinDCX’s Okto wallet, Transak recently announced its entry into The Open Network’s (TON) ecosystem through its integration with Tonkeeper Wallet. This enables Toncoin (TON) to be purchased directly with fiat from more than 150 countries.
Hot Take: CoinDCX Enhances Okto Wallet with Transak Integration
CoinDCX’s integration of Transak into its Okto wallet significantly expands the wallet’s capabilities by allowing users to directly purchase cryptocurrencies using various fiat currencies. This integration eliminates the need for external wallets and provides a seamless conversion process within the app. With the support of over 155 jurisdictions, Okto becomes a more accessible and user-friendly platform for crypto enthusiasts worldwide. Additionally, Transak’s entry into the TON ecosystem further solidifies its position as a leading on-ramp solution in the industry.
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