CoinDCX's self-custody wallet Okto has obtained a license issued by the UAE Free Trade Zone.

according to Cointelegraph, the Indian cryptocurrency exchange platform CoinDCX's self-custody wallet Okto has officially obtained a license issued by the RAK Digital Assets Oasis (RAK DAO) in the UAE Free Trade Zone.

On August 27, Okto announced that it has received an operating license from RAK DAO. This allows the Web3 wallet to operate legally in the UAE. The project claims to be 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, fully owned by the Mauritius-based company DCX Global, which was established in July 2023. The platform offers a keyless, self-custody wallet for managing digital assets.