OKX plans to scale up its wallet services 'exponentially' by tapping into India's much-talked-about developer community.
"You have to kind of separate Web3 from CeFi [centralized finance] and I think regulators are starting to do that too," Rafique said."They're more concerned about venues that have fiat on-ramps, which we do but we don't offer it in India. Once India comes up with a regulatory framework for crypto then we would like to be the front runners."
OKX does not have an office in the nation and has no immediate plan to open one because that's not required to offer Web3 services, said Rafique. But it is looking to hire a team to lead this effort. "We're trying to identify who's who in the zoo and what is their contribution. There's a large developer community. How do we help them, build a relationship with them," he said."How do we first let them know what we're about. And then work with these communities to figure out what is the right way in. Is it for us to sponsor Web3 conferences or developer conferences or host an OKX Blockchain Week? This is what we are exploring.
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