CoinDCX Secures Business License From RAK Digital Assets Oasis (RAK DAO)

Indian crypto exchange pioneer CoinDCX has secured a milestone achievement for its self-custodial wallet, Okto. The crypto firm today revealed that it attained a business license from RAK Digital Assets Oasis (RAK DAO), the world's first and only free zone dedicated to supporting digital asset companies.

CoinDCX, a leading Indian cryptocurrency exchange, has announced a significant milestone for its self-custodial Web3 wallet, Okto, with the acquisition of a business license from RAK Digital Assets Oasis (RAK DAO). This marks a historic first for a self-custodial wallet, highlighting Okto's pioneering role in the Web3 ecosystem.

As per an official press statement from Okto on August 27, the Web3 wallet has successfully secured a business license with RAK DAO, indicating a major step forward in driving Web3 adoption. Okto is a multi-chain Web3 wallet designed to seamlessly store and manage digital assets across 10+ EVM and non-EVM chains.

Commenting on this achievement, Neeraj Khandelwal, Co-founder of CoinDCX & Okto, stated, “We are honoured to have received the business license from RAK Digital Assets Oasis. Self-custody as a concept is revolutionary as it grants complete ownership of assets to the users, and we, at Okto, are staunch advocates of this movement.”

Highlighting Okto's rapid growth and user adoption, Khandelwal added, “Okto has already onboarded more than a million users in one year. This business license will add another layer of confidence and trust to our users. We are confident that this milestone will accelerate the adoption of Web3 among the mainstream audience.”

This latest development further solidifies CoinDCX's strong presence in the Indian crypto market and its dedication to fostering Web3 innovation. Notably, the exchange has also acquired the Dubai-based cryptocurrency exchange BitOasis to expand into the Middle East and North Africa region.

Overall, CoinDCX has undertaken several initiatives to enhance the accessibility and adoption of digital assets in India and beyond.

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