ORA-28365: wallet is not open encountered below issue while Starting the Database

SQL> startup
ORACLE instance started.

Total System Global Area 2.1475E+10 bytes
Fixed Size                 12170960 bytes
Variable Size            2818574640 bytes
Database Buffers         1.8589E+10 bytes
Redo Buffers               54935552 bytes
Database mounted.
ORA-00603: ORACLE server session terminated by fatal error
ORA-01092: ORACLE instance terminated. Disconnection forced
ORA-28365: wallet is not open
Process ID: 12599
Session ID: 260 Serial number: 21611


                                   Solution:
Start the instance in mount mode

[oracle@ora]$ sqlplus / as sysdba

SQL*Plus: Release 12.2.0.1.0 Production on Fri Jul 10 17:02:32 2020

Copyright (c) 1982, 2016, Oracle.  All rights reserved.

Connected to an idle instance.

SQL> startup mount
ORACLE instance started.

Total System Global Area 2.1475E+10 bytes
Fixed Size                 12170960 bytes
Variable Size            2818574640 bytes
Database Buffers         1.8589E+10 bytes
Redo Buffers               54935552 bytes
Database mounted.

Check Wallet status
SQL> select STATUS,WRL_PARAMETER WALLET_DIR,WALLET_TYPE from V$ENCRYPTION_WALLET;

STATUS
------------------------------
WALLET_DIR
--------------------------------------------------------------------------------
WALLET_TYPE
--------------------
CLOSED
/apps/DEV/product/12.2.0/dbhome_1/admin/DEV/wallet/
UNKNOWN


SQL> administer key management set keystore open identified by "tde1986";

keystore altered.

SQL> select * from v$encryption_wallet;

WRL_TYPE   WRL_PARAMETER  STATUS  WALLET_TYPE   WALLET_OR ULLY_BAC
    CON_ID    FILE
/apps/DEV/product/12.2.0/dbhome_1/admin/DEV/wallet/   OPEN   PASSWORD    SINGLE    NO       0


SQL> alter database open;


Database altered.