Crypto exchange CoinDCX launch ‘Okto’, a decentralise finance (DeFi) app to open the Web3 sector for a widespread adoption in India, on 26th August 2022. The CoinDCX is aiming to help members of the Indian crypto community to dive deeper into the DeFi space.
DeFi is an emerging financial technology base on secure distributed ledgers.
The system removes the control that banks and institutions have on money, financial products, and financial services to democratise existing financial systems.
CoinDCX announce the launch of Okto during its ‘Unfold 2022′ event held in Bengaluru city.
This mobile app will offer a keyless, self-custodial wallet service back by many layers of security as well as native access to more than a hundred decentralise apps ranging across DeFi, NFTs, synthetics, and cross-chain bridges, among many others.
In India, Okto app will be available within CoinDCX Pro, whereas globally, Okto will be roll-out as a standalone app.
I honestly believe India will create the highest number of unicorns in the world. And that’s the dream we are working towards.
— Sumit Gupta (CoinDCX) (@smtgpt) August 26, 2022
Kickstarting #Unfold2022 with this thought.👊🏻 #Web3 #Blockchain pic.twitter.com/5vhx4rQQi0
Neeraj Khandelwal, Co-Founder, CoinDCX, said :
“We firmly believe that the next phase of growth for the crypto industry will not only come from exchange of value but also from applications built on the underlying blockchain technology. As the technology is maturing, builders are creating use-cases to unlock value and make the internet a more equitable space. Our new Defi offering is the first step in this direction,”.
The CoinDCX, which claims to have handling over 13 million monthly active users, intends to open the Web3 world for everybody with an Internet-enable smartphone in their hands.
Wohoo! Okto Power of #DeFi in your Pocket! Welcome to the Tribe @Okto_app 🤘🏼🐙#coindcx #oktoapp #DeFi #web3 #Blockchain #Unfold2022 #tothemoon https://t.co/Y8dMyUce2m
— Jiegney Udwadia (@jiegneyudwadia) August 26, 2022
In July 2022, CoinDCX had announce the appointment of Gaurav Arora as the Senior Vice President of CoinDCX Pro.
Gaurav Arora, the former Director of Products at Amazon Pay India, has a decade-long industry experience in growing and leading products and businesses.
CoinDCX is the first Indian unicorn in the cryptocurrency space.
Apart from its recently close $135 million (approx. Rs. 1,044 crore) Series D funding round led by Pantera and Steadview, the CoinDCX has previously raise over $100 million (approx. Rs. 760 crore) with Coinbase Ventures and Facebook co-founder Eduardo Saverin-led B Capital as its investors.
In a bid to provide early-stage support to budding blockchain projects in India and around the world, CoinDCX also launch its venture investment arm recently with the plan of investing Rs. 100 crore in the start-up industry.
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