OKTO launched its AI-based self-custodial wallet space

According to an official release, Okto, a Defi wallet app, in partnership with CoinDCX, a crypto exchange, has introduced an AI-based Multi-Factor Authentication, a technology that might improve the security of self-custodial DeFi wallets. The wallet is expected to be designed for helping users to swap tokens and earn from DeFi opportunities along with a smooth user experience. It is believed that investors such as Coinbase Ventures, Bain Capital and Pantera among others, have invested in this project.

Supposedly, this all-in-one Web3 app will eliminate the need for safeguarding seed phrases ensuring full control of funds with users. It will also remove the risk of a single point of failure using state-of-the-art, custom-built, consensus-driven Multi-Party Computation (MPC) technology.