CoinDCX, a leading cryptocurrency exchange in India, has integrated Transak into its self-custody wallet Okto, increasing the number of supported countries from 60 to more than 155.
Okto Wallet, a multichain cryptocurrency wallet launched by CoinDCX in August 2022, has integrated the Transak platform to expand its global support, the company said on October 5. According to the company, the integration is promptly available on Okto.
Neeraj Khandelwal, co-founder of CoinDCX and Okto, stated that with the incorporation of Transak, the number of jurisdictions supported by the Okto wallet increased from 60 to more than 155.
By integrating Transak, Okto now allows users to buy Bitcoin and other cryptocurrencies directly on Okto using a variety of fiat currencies, including the U.S. dollar, euro, Hong Kong dollar, and others.
Khandelwal noted that Transak is the first and only on-ramp solution that Okto has introduced. Before this integration, the only way to send cryptocurrency to Okto was by sending the digital currency from an external wallet such as MetaMask, according to Khandelwal.
“The integration of Transak now allows 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.”
Okto allows users to store over 1,000 tokens across multiple chains, including Polygon, Fantom, and Avalanche, according to the app’s Apple Store description. However, according to a spokesperson for Okto, the wallet enables users to store up to 3,000 tokens.
While Okto announced the news about Transak support today, rolling out the on-ramp solution began a few months ago. As early as August 2023, when Okto was evaluating the on-ramp solution on its platform, some online users in India reported problems with Transak.
“The process of integrating began in April 2023,” a company spokesperson said, adding that the official rollout to all consumers occurred in mid-September.
Transak is a global Web3 payment and enrollment infrastructure provider that connects traditional finance and digital assets. Platforms like MetaMask, Coinbase, and PancakeSwap use Transak’s services, making it a popular on-ramp solution in the cryptocurrency industry.
Transak announced its integration with The Open Network’s (TON) Tonkeeper wallet this week. The event signified Transak’s entrance into the TON ecosystem, allowing the wallet to purchase Toncoin (TON) directly with fiat currency from over 150 countries.
