Cryptocurrency exchange CoinDCX is expanding its self-custody wallet, Okto, by integrating major on-ramp platform Transak.
Okto, a multichain cryptocurrency wallet launched by CoinDCX in August 2022, has integrated the Transak platform to scale the wallet’s global support.The integration is immediately available on Okto, the company said.
With the new integration, the Okto wallet has increased the number of previously supported 60 countries to 155 jurisdictions, CoinDCX and Okto co-founder Neeraj Khandelwal said.
By integrating Transak, Okto now specifically allows users to buy cryptocurrencies like Bitcoin directly on Okto, using a large number of fiat currencies, including the U.S. dollar, the euro, the Hong Kong dollar and others.
Transak is the first and currently the only on-ramp solution introduced on Okto, Khandelwal noted. Prior to this integration, the only way of sending crypto to Okto was by sending the digital currency from an external wallet like MetaMask.
While Transak supports around 160 tokens, Okto allows users to store more than 1,000 tokens across multiple chains, including Polygon, Fantom, Avalanche and others, according to the app’s description on the App Store. However, according to Okto’s spokesperson, the wallet allows users to have up to 3,000 tokens in the wallet.
Transak is a global Web3 payment and onboarding infrastructure provider aiming to connect traditional finance and digital assets. It is a popular on-ramp solution in the cryptocurrency industry, with platforms like MetaMask, Coinbase and PancakeSwap utilizing its services.
