Okto Chains orchestration layer enables CoinDCX to launch web3 mode with INR onramp

CoinDCX, an Indian cryptocurrency exchange, has announced its integration with Okto Chain, an orchestration layer designed to simplify web3 for users and developers. Orchestration layers aim to provide a simplified user interface for users and developers as they interact with web3 environments. Okto Chain offers a suite of easy-to-use software development kits (SDKs) for developers to integrate Web3 functionalities into their applications, and users benefit from a smoother user experience similar to web2 applications. With the recent integration, CoinDCX users will be able to access 50,000 tokens within the exchange’s mobile application’s web3 mode, including major ecosystems like Polygon, Binance Smart Chain, Solana, Base, and 10 other chains. Users will also benefit from on-chain rewards, OKTO airdrops, and self-custody services within the app. Okto Chain’s chain abstraction facilitates interactions across multiple blockchains, allowing CoinDCX users to perform cross-chain token swaps and multi-chain identity verification. The web3 mode also allows CoinDCX users to use INR without requiring additional wallets, enabling them to directly buy tokens like ETH and Matic using fiat currency. All gas fees involved in these transactions will be automatically handled by the orchestration layer. According to founder Neeraj Khandelwal, several Web3 companies are still developing chain-abstracted products, but Okto Chain has already deployed this technology at scale. Okto Chain, initially revealed in May 2024, is a zero-knowledge roll-up chain secured by a decentralized set of Proof of Stake (PoS) validators. The blockchain’s abstraction layer integrates Decentralized Wallet Networks (DWNs) and Decentralized Transaction Networks (DTNs). The Okto Chain ecosystem can be accessed via the Okto wallet, which was launched by CoinDCX’s defi arm, Okto, in 2022. The wallet provides users access to over 100 decentralized apps (dApps) and 20+ blockchains, as well as the upcoming native token of the blockchain network, OKTO.