CoinDCX, a leading Indian cryptocurrency exchange, has with Okto Chain.
CoinDCX has unveiled a Web3 mode on its app, empowering its 15 million users to access over 50,000 decentralized finance (DeFi) tokens, The Crypto Times reported.
This expansion, leveraging Okto Chain’s orchestration layer, simplifies users' interaction with various blockchain ecosystems, including Base, Solana, Binance Smart Chain, and Polygon, among others. Users can now purchase tokens using Indian rupees (INR) and seamlessly transfer them to the Web3 mode for further transactions.
The new Web3 mode provides a unified deposit and withdrawal system, allowing for smooth fund transfers between traditional CoinDCX wallets and the Web3 environment. This integration is set to enhance user experience by enabling cross-chain token swaps and identity confirmations across multiple networks without dealing with blockchain complexities.
Sumit Gupta, co-founder of CoinDCX, commented that this feature addresses a critical issue in the crypto space: early access to promising projects. Typically, retail investors miss out on early-stage investments, but with this launch, they can now invest in new projects at an earlier stage, potentially increasing their returns.
Okto Chain's orchestration layer plays a pivotal role in this integration by abstracting the complexities of blockchain interactions. Neeraj Khandelwal, co-founder of CoinDCX, highlighted that users can perform cross-chain token swaps and interact with multiple chains effortlessly, making the experience user-friendly and accessible.
This development is expected to significantly boost user engagement on CoinDCX, attracting both seasoned traders and newcomers to the platform.
The ability to invest in early-stage projects and the convenience of cross-chain interactions position CoinDCX as a frontrunner in the Indian crypto market.
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