With the integration of Transak into CoinDCX’s Okto wallet, the number of supported jurisdictions has surged from a mere 60 to a staggering 150 and beyond. CoinDCX, a prominent Indian cryptocurrency exchange, is embarking on an expansion journey for its self-custody wallet, Okto, by seamlessly incorporating the Transak platform. Okto, the multifaceted cryptocurrency wallet introduced by CoinDCX in August 2022, has seamlessly integrated with Transak to amplify its global accessibility, as per the announcement made by the firm on October 5th. The integration is readily accessible through Okto, as affirmed by the company. This integration marks a momentous milestone for Okto, as it has broadened its reach from a modest 60 supported countries to an impressive 155 jurisdictions, as highlighted by Neeraj Khandelwal, CoinDCX and Okto co-founder. The newfound Transak integration empowers Okto users to acquire cryptocurrencies like Bitcoin directly within the app, utilizing an array of fiat currencies, including the U.S. dollar, euro, Hong Kong dollar, among others. Noteworthy is the fact that Transak is the inaugural and presently exclusive on-ramp solution offered on Okto, as emphasized by Khandelwal. Prior to this integration, transferring crypto to Okto necessitated sending digital assets from an external wallet, such as MetaMask, as elucidated by Khandelwal: “The integration of Transak now enables users to seamlessly convert fiat to crypto right within the app. Prior to this integration, users had to transfer funds from another decentralized wallet, such as MetaMask.” While Transak boasts support for approximately 160 tokens, Okto takes it a step further, allowing users to safeguard over 1,000 tokens across various blockchain networks, encompassing Polygon, Fantom, Avalanche, and more, as elaborated in the app’s description on the App Store. Interestingly, Okto’s spokesperson revealed that the wallet has the capacity to accommodate up to 3,000 tokens. Although Okto officially disclosed its Transak support news on October 5th, the process of introducing this on-ramp solution commenced several months earlier. In fact, some online users in India reported encountering Transak-related issues as early as August 2023 when Okto was in the midst of testing the on-ramp solution. A spokesperson for the firm disclosed, “The process of integration began in April 2023,” further noting that the official rollout to all customers was completed in mid-September. Transak, a globally recognized Web3 payment and onboarding infrastructure provider, aspires to bridge the gap between traditional finance and digital assets. It has gained substantial traction within the cryptocurrency industry, with prominent platforms like MetaMask, Coinbase, and PancakeSwap availing themselves of its services. In a recent development, Transak announced its integration with Tonkeeper, The Open Network’s (TON) wallet. This milestone signified Transak’s entry into the TON ecosystem, enabling the wallet to facilitate direct fiat-to-Toncoin (TON) transactions from over 150 countries.
