CoinDCX Chooses Rohit Jain For DeFi arm Okto, Continues As Chief Strategy & Investment Officer at CoinDCX

CoinDCX, an Indian cryptocurrency exchange, has announced significant leadership appointments for Okto, its Web3 and DeFi divisions, with the goal of boosting the adoption of decentralized technology.

Rohit Jain has been recruited as Okto’s CEO, while retaining his roles as Chief Strategy & Investment Officer at CoinDCX and Managing Director at CoinDCX Ventures.

Rohit Jain, who has substantial experience in strategy and investing in the Web3 domain, stated his excitement about his increased role:

“Okto provides a unique chance to address the fragmented experiences that consumers and developers suffer in Web3. By providing a unified platform with simple SDKs, we enable the development of next-generation Web3 rails apps. Chain abstraction will be crucial as we work to onboard the next billion people, simplifying interactions and improving front-end usability.”

Minal Thukral, who has been with CoinDCX for over five years, has joined the Okto leadership team to oversee Ecosystem Growth, which will focus on driving business development, collaborations, and the expansion of the Okto wallet and SDK platform.

Related: Post WazirX’s Crypto Theft, CoinDCX Rolls Out 50 Cr to Protect Investors

Prior to joining CoinDCX, Rohit created and mentored many firms, successfully directing them through fundraising, strategy, and product development. He has held leadership positions at prestigious companies like Fundamentum, Myntra, and McKinsey & Company.

Rohit earned a BTech in Computer Science from IIT Guwahati and an MBA from Harvard Business School.

Okto is a secure multi-chain DeFi app that includes a keyless, self-storage wallet. Its goal is to simplify the world of decentralized finance (DeFi) by offering a safe, user-friendly, and innovative solution for managing digital assets.

It uses Multi-Party Computation (MPC) technology to protect consumers’ assets. But what truly distinguishes Okto is its patent-pending AI-based Multi-Factor Authentication, a game-changing solution that promises to transform the security of self-custodial DeFi wallets.

CoinDCX has spent the last two years investing in Okto’s talent pool, hiring a top-tier engineering staff as well as skilled individuals from a variety of functions.

The company has a dedicated team of 100 people focusing on Okto, including Co-Founder Neeraj Khandelwal.

Rohit, a seasoned entrepreneur and investor with a successful track record in the Web3 arena, is equipped to lead CoinDCX’s aim of promoting a decentralized economy.

Okto Chain, led by Rohit, intends to streamline the fragmented Web3 ecosystem with its novel chain abstraction layer, making blockchain technology integration easier for both developers and users.

Simultaneously, Minal will promote the use of Okto SDKs, which allow developers to easily integrate sophisticated Web3 capabilities into their applications.

The strategic focus on developer enablement will result in a more seamless, mobile-native experience for users, accelerating the widespread adoption of Web3 technologies. The company says that more than 2 million customers utilize the Okto Wallet and has a growing ecosystem of 20+ dApps.

CoinDCX announced the release of Okto Chain in May 2024, a unique chain abstraction layer meant to simplify blockchain integration for both developers and users. Okto’s purpose is to empower people throughout the world by making Web3 more accessible and financially inclusive. Okto’s focus on chain abstraction intends to offer the benefits of decentralization to billions of people worldwide.

Okto is improving chain abstraction by implementing a fully expressive orchestration layer. Okto provides developers with a unified platform for building next-generation web3 rails applications by providing simple SDKs on the one hand and access to Protocol / community-created Blocs on the other (think simple scripts).

The platform handles the hard lifting of abstracting web3 intricacies across a fragmented ecosystem while offering customers web2-like experiences.