CoinDCX, a leading crypto exchange in India, has unveiled its Web3 Mode within the CoinDCX app, marking a significant step towards becoming a comprehensive platform for Web3 needs.
This integration allows CoinDCX’s 15 million users to directly access over 50,000 DeFi tokens, including emerging and pre-launch tokens from ecosystems like Base, Solana, Binance Smart Chain, and Polygon.
With the new feature, users can now invest in tokens not yet available on centralized exchanges, facilitated by a straightforward INR on-ramp for purchasing assets such as ETH, Matic, USDT, and USDC. The Web3 Mode also supports seamless transfers between CoinDCX wallets and Web3 Mode, making it easier for users to explore and trade within the Web3 space.
“In 2022, we unveiled a strategy for Web3, committing to enable any individual with a smartphone to participate in this economy and gain value from it. As a first step, we introduced Okto Wallet. Continuing with this, CoinDCX’s long-term vision is to become the world’s leading all-in-one Web3 app, offering both centralized exchange convenience and DeFi innovation. We have been working on this for the last two years and are now proud to introduce Web3 Mode in CoinDCX App for our 1.5 crore users. This positions CoinDCX as a one-stop shop for all Web3 needs, streamlining the user experience and addressing major customer pain points in the evolving Web3 landscape,” said Sumit Gupta, Co-founder of CoinDCX.
“The launch of Web3 Mode marks a significant milestone in our mission to simplify Web3 access. This integration was made possible via Okto Chain. Last month, we introduced our fully expressive orchestration layer, a groundbreaking solution that holistically addresses chain abstraction. In just a month, the first product using this technology is already live for CoinDCX users. CoinDCX users can now seamlessly interact with multiple chains, perform cross-chain token swaps, and confirm their identities across various networks—without dealing with the complexities of blockchain, made possible by chain abstraction powered by Okto’s ‘Orchestration’ Chain,” said Neeraj Khandelwal, Co-founder of CoinDCX and Okto.
To celebrate the launch, CoinDCX is airdropping points based on user transaction history and offering ongoing opportunities to earn Okto Points for interactions within Web3 Mode. Enhanced user experience will be central to Web3 Mode, providing benefits such as on-chain rewards, airdrops, low gas fees, and self-custody within the familiar CoinDCX environment.
This new feature underscores CoinDCX’s commitment to simplifying Web3 access and enabling a broader audience to participate in the decentralized economy.
