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Okto Wallet Revolutionizes Web3 Adoption in India: Unveils Powerful SDK for Internet Companies, Aims for 50 Million Users in Three Years

  • Simplifying Development Transition: Okto is on a mission to empower builders with its state-of-the-art embedded wallet Software Development Kit (SDK). This powerful tool seamlessly integrates Web3 wallets within other applications, ensuring simple onboarding into Web3 ecosystem, unlocking the full potential of Web3 interoperability, composability, and smart contracts while delivering exceptional customer experience.
  • Quick Web3 Integration: Okto SDK is an industry first, empowering any App or internet company to integrate web3 in just five minutes. Traditionally, this process would take weeks with multiple developers, but with Okto SDK, it’s streamlined to five minutes, managed by a single developer.

Bengaluru, December 7, 2023 : Okto, the Web3 Wallet App build in partnership with CoinDCX and backed by investors such as Steadview, BCap, Coinbase Ventures, Pantera, Bain Capital Ventures, among others, is poised to accelerate the Indian Web3 market. Today, against the backdrop of India Blockchain Week, ETH India and PolygonConnect, some of the largest Web3 events organised in Bengaluru, the company announces the launch of its Okto embedded wallet SDK along with a hackathon in ETH India. An industry first, this embedded wallet enables any app or internet company to unlock the full potential of Web3, decentralization, and smart contracts in just five minutes. By simplifying onboarding and enabling inline Web3 transactions without app redirections, Okto extends the value of Web3 to users, even within non-native Web3 applications.

India ranks amongst the top five countries for crypto adoption and other Web3 products, as revealed by a recent Chainlysis report. There are also a slew of mainstream apps exploring their foray into Web3. However, they acknowledge the complexities involved, including the need to understand the development tools in Web3, compliance, on-ramp, and complex onboarding when building Web3-native apps or integrating Web3 features into their current products. 

The Okto embedded wallet SDK simplifies the transition from the current to the new world of Web3, empowering any App or internet company to seamlessly integrate their infrastructure with that of Web3  in a matter of five minutes and can be conveniently managed by a single developer. Traditionally, achieving this would take weeks of effort from multiple developers. It will unlock numerous opportunities for apps in finance, gaming, social media, the creator economy, etc. It allows customers to create a Web3 wallet within their frequently used app, conduct transactions seamlessly without redirection, securely maintain custody (self-custody), and use the same assets across the wide interoperable and composable ecosystem of Web3.

Neeraj Khandelwal, Founder of Okto, emphasized, “The Okto embedded wallet SDK emerges as a key enabling factor, facilitating any internet company to efficiently and economically harness the power of Web3. Leveraging Okto SDK will significantly expedite the development process, saving both time and financial resources for companies. With the Okto SDK, we envision the widespread adoption of Web3 technologies, reaching a user base of 50 million. Grounded in the principles of decentralization, interoperability, transparency, and self-custody, Web2 users will directly benefit from Web3, propelling the creation of a multibillion-dollar market that users control.”

Customers on apps will be able to open their Okto Web3 wallet on the same app while retaining self-custody via Okto’s account abstraction & MPC technologies. They don’t need to worry about their keys, the security of their assets, etc., because Okto uses industry-leading and accepted technology for maximum safety. Users will be able to use assets in their Okto wallet created across all the apps in the ecosystem bringing out the interoperability that Web3 promises. 

“At Okto, we envision a future where decentralized blockchain technology becomes integral to the economy, providing widespread opportunities for mass-market consumers. Our journey began with Okto, a Web3 wallet that unlocked DeFi ecosystem potential, offering high-yield opportunities. This success drives our long-term goal to accelerate decentralized blockchain adoption. Recognized as the most secure global Web3 wallet, Okto’s innovative features, including Multi-Party Computation (MPC) and account abstraction, ensure unprecedented security and scalability. With this launch of the app embedded wallet, we anticipate further accelerating mass adoption, inviting developers and organizations to harness Okto SDK’s power for an exceptional Web3 experience,” expressed Neeraj Khandelwal.

Okto stands at the forefront of the future, spearheading the acceleration of mass adoption in Web3 and the broader blockchain economy. With its commitment unwavering, Okto envisions a transformative landscape where web3 technologies and decentralized finance become integral components, driving innovation and widespread accessibility for users in India and worldwide.

About Okto:

Okto is a secure multi-chain Web3 app that offers a keyless and self-custody wallet. It aims to simplify the world of Web3 by providing a secure, user-friendly, and innovative solution for managing digital assets. Okto utilizes Multi-Party Computation (MPC) technology to ensure security for users’ assets. 

With support for multiple chains and access to over 100 protocols, Okto offers a seamless experience for users to participate in various DeFi opportunities. This innovative super app offers an array of exclusive features, including the Rewards Centre for curated quests and exclusive airdrops, a New Tokens Hub for fast access to the latest tokens and crypto, opportunities to earn passive income, and the ability to collect NFTs representing meaningful moments and experiences. 

Okto is backed by investors such as Steadview, BCap, Coinbase Ventures, Pantera, Bain Capital Ventures, among others.

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