CoinDCX Introduces Web3 Mode To Enable INR Crypto Purchase

CoinDCX, India's crypto exchange, has launched Web3 Mode within its app, establishing itself as a one-stop shop 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.

Users can now invest in tokens not yet available on centralised exchanges, with a straightforward INR on-ramp for purchasing assets such as ETH, Matic, USDT, and USDC. The new feature also supports seamless transfers between CoinDCX wallets and Web3 Mode, facilitating easier exploration and trading within the Web3 space.

“In 2022, we unveiled a strategy for Web3, wherein we committed we would enable any individual with a smartphone to take part 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 centralised exchange convenience and DeFi innovation. We have been working on this for the last two years and now we are 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, 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, which is made possible by chain abstraction powered by Okto’s ‘Orchestration’ Chain,” said Neeraj Khandelwal, Co-founder, 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.