The post Okto Wallet by CoinDCX Becomes First Web3 Wallet Licensed by RAK DAO appeared on BitcoinEthereumNews.com.

Okto, a self custodial wallet by CoinDCX has received a business license from RAK DAO. RAK Digital Assets Oasis or RAK DAO is the world’s first Free Zone dedicated to digital assets. Okto has become the first Web3 wallet to secure this license. Let’s explore the significance of this license and why this is a huge achievement for Okto. What Does This Mean for Okto Getting a business license from RAK DAO is not an ordinary thing. With this License in hand, the self custodial gains enhanced operational capabilities and regulatory compliance. The self custodial wallet has already onboarded over a million users in a small span of one year. Getting this license will boost the trust and confidence of these users. This license also makes Okto a leader in the Web3 space and allows it to expand its services globally while ensuring highest standards and security. The Co-founder of CoinDCX and Okto wallet, Neeraj Khandelwal shared an X thread with the details of this license acquisition and its benefits for all.  1/ Thrilled to share that @Okto_web3 has secured an operational license from RAK Digital Assets Oasis (@RAK_DAO), the world’s first Free Zone dedicated to digital assets! This milestone makes Okto the first Web3 wallet to achieve such a license, marking a significant step in our… pic.twitter.com/1aLDlkmXSj — Neeraj Khandelwal (@neerajKh_) August 27, 2024 What is RAK DAO RAK Digital Assets Oasis is a leading initiative by the government of Ras-Khaimah in the UAE. It is the only free zone in the world, designed to support and nurture companies in the crypto space. This zone provides a business friendly environment with tax benefits, smooth regulatory support and world class infrastructure. All these things make Okto and RAK DAO ideal partners as both seek to drive innovation. Impact on Users…

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Filed under: News - @ August 27, 2024 8:21 pm