Crypto exchange OKX plans to enter India amid tough market conditions

The crypto exchange plans to expand its wallet services by tapping into the Indian developer community and recruiting employees to explore potential Web3 applications.

Presently, The exchange has around 200,000 wallet users in India, which accounts for only 5% of the country’s Web3 users.

This comes after the Indian govt imposed a 30% tax on crypto, which is one of the major reasons for crypto downfall in the country.

Recently, Indian crypto giants --- CoinSwitch and CoinDCX announced layoffs to reduce costs and achieve profitability