Okto becomes first Web3 wallet to get RAK Digital Assets Oasis licence

Okto, the DeFi wallet from CoinDCX, becomes the first Web3 wallet in the industry to secure a license from RAK Digital Assets Oasis (RAK DAO).

Okto facilitates the storage and management of digital assets across a broad spectrum of blockchain networks, including over 10 EVM and non-EVM-based chains like Ethereum, Base, BSC, Arbitrum, Solana, and Polygon.

Okto empowers users with complete autonomy over their assets, offering the ability to create new self-custody wallets, seamlessly import existing ones, and export their wallets to other platforms.

CoinDCX has already established a business footprint in the UAE region, having acquired BitOasis in June 2024. 

“Okto’s success is a testament to the thriving ecosystem we are building in Ras Al Khaimah, and we look forward to supporting their continued growth as they lead the way in decentralised finance,” Dr. Sameer Al Ansari, CEO of RAK DAO, said.

Neeraj Khandelwal, Co-Founder of CoinDCX & Okto, said that self-custody is a revolutionary concept, giving users complete ownership of their assets.

“With over a million users’ onboarded in just one year, this licence will further enhance the trust and confidence of our community. We believe this milestone will accelerate Web3 adoption among mainstream audiences.”