Cryptocurrency exchange OKX plans to expand its wallet services in India by hiring local staff and tapping into the country's developer community. The company currently has around 200,000 wallet users in India, which is approximately 5% of the country's web3 users.

Despite regulatory uncertainties, OKX aims to be a front runner in the Indian market once a crypto regulatory framework is launched. While India has not explicitly declared cryptocurrency legal, the Reserve Bank of India is developing its central bank digital currency, the digital rupee.