CoinDCX's self-custodial wallet Okto obtains license from UAE Free Zone RAK DAO

BlockBeats reported that on August 27, Cointelegraph reported that Okto, a self-custodial wallet under the Indian cryptocurrency trading platform CoinDCX, has officially obtained a license issued by the UAE Free Trade Zone RAK Digital Assets Oasis (RAK DAO).

On August 27, Okto announced that it had obtained an operating license from RAK DAO. This enables the Web3 wallet to operate legally in the UAE. The project claims that it is the first Web3 wallet to obtain a license in the country's dedicated digital asset free zone.

Okto is a multi-chain decentralized finance (DeFi) wallet that is wholly owned by a subsidiary of DCX Global, a Mauritius group company established in July 2023. The platform provides keyless, self-custodial wallets for managing digital assets.