Oasis

when

<ul>
 <li>CoinDCX's Okto is the first Web3 wallet to receive a business license from RAK Digital Assets Oasis.</li>  
 <li>Okto supports over ten EVM and non-EVM chains and has boarded over one million users in its first year.</li>  
 <li>CoinDCX recently acquired BitOasis to expand its reach in the Middle East and North Africa.</li> 
</ul>  
<p>CoinDCX, an Indian cryptocurrency exchange, reached an important milestone when its self-custodial wallet Okto obtained a business license from RAK Digital Assets Oasis (RAK DAO). This license is a significant step forward for both the business and the larger digital asset market.&nbsp;</p>  
<p>Notably, the fact that RAK DAO is the first free zone in the world devoted to assisting companies that deal in digital assets is noteworthy. The fact that this approval is the first of its kind for a Web3 wallet emphasizes how important self-custody solutions are <a href="https://cryptonewsland.com/iconic-leaders-of-web3-and-the-uae-celebrate-rak-dao-milestone/" target="_blank" rel="noopener noreferrer nofollow">becoming</a> to the cryptocurrency space.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/neerajKh_/status/1828341601908973879
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-a-major-step-towards-web3-adoption"><strong>A Major Step Towards Web3 Adoption</strong></h2>  
<p>CoinDCX created the Web3 wallet Okto with the goal of making it easier to manage and store digital assets securely. More than ten EVM and non-EVM chains are supported. It is anticipated that the wallet's credibility will be greatly increased and that the adoption of Web3 technologies will accelerate with the business license from RAK DAO.</p>  
<p>As stated in the official press release from Okto on August 27, reaching this milestone is a major sign of the wallet's expanding market share. Neeraj Khandelwal, co-founder of CoinDCX, underlined the significance of this accomplishment, saying that the license upholds the faith and confidence of Okto's user base. He also emphasized the wallet's strong user adoption rate, pointing out that in just its first year, more than a million users had been added.</p>  
<h2 class="wp-block-heading" id="h-expanding-global-reach-in-the-crypto-sector"><strong>Expanding Global Reach in the Crypto Sector</strong></h2>  
<p>Notably, this move is a component of CoinDCX's larger plan to increase its market share in the global cryptocurrency industry. To bolster its position in the Middle East and North Africa, the company purchased BitOasis, a cryptocurrency exchange located in Dubai, earlier this year. The acquisition is consistent with CoinDCX's goal to increase its market share and influence.&nbsp;</p>  
<p>Furthermore, Okto's acquisition of the RAK DAO license gives the exchange a new direction, especially in the area of self-custodial solutions. The growing acceptance of these wallets by regulators may open the door for decentralized finance (DeFi) technologies to become more widely used.</p>  
<h2 class="wp-block-heading" id="h-coindcx-s-rising-influence-in-the-indian-crypto-market"><strong>CoinDCX’s Rising Influence in the Indian Crypto Market</strong></h2>  
<p>Consequently, given the difficulties other exchanges are facing, CoinDCX's recent <a href="https://cryptonewsland.com/coindcx-launches-6m-fund-after-wazirx-hack/" target="_blank" rel="noopener noreferrer nofollow">achievements</a> stand out in the Indian cryptocurrency market. The difficulties faced by rivals like WazirX, which was the victim of a serious hack earlier this year, have contributed to the exchange's increased visibility. The company's emphasis on self-custody through Okto may set CoinDCX apart as a market leader as it gains momentum.&nbsp;</p>  
<p>Moreover, the company's reputation will probably be further enhanced by the RAK DAO license, which will give it a competitive advantage in an increasingly crowded market. CoinDCX's initiatives to support self-custodial options highlight how user-controlled digital assets are becoming more and more significant.</p> 
<p>The post <a href="https://cryptonewsland.com/coindcxs-okto-secures-business-license-from-rak-digital-assets-oasis/" rel="noopener noreferrer nofollow">CoinDCX’s Okto Secures Business License from RAK Digital Assets Oasis</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

CoinDCX’s Okto Secures Business License from RAK Digital Assets Oasis

Table of Contents

Crypto News Land

Other articles published on Aug 27, 2024

Ethereum Whale’s $15M Loss Highlights Market Volatility

Telegram CEO Pavel Durov Arrest Leads Toncoin (TON) To Sell-Off, Investors Turn to this $0.034 Et...

Aave and Optimism Up Surge on the Cards? Lock In for Profits as RollBlock Price Hike Has Already ...

Binance CEO asks U.S. to act as detained employee suffers in Nigeria

Donald Trump NFT Collection Was Launched with Exclusive Perks

Bitcoin Witnesses Epic 7,023% Imbalance in Bulls' Liquidations

Join our free newsletter for daily crypto updates!