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Coinbase secures Indian approval for CoinDCX minority investment
India’s Competition Commission, the regulatory authority responsible for promoting fair competition, has approved Coinbase’s acquisition of a minority stake in cryptocurrency platform CoinDCX.
According to the regulator’s statement, Coinbase Global plans to acquire a stake in DCX Global Limited, the company behind CoinDCX. Coinbase’s Chief Legal Officer Paul Grewal confirmed the news in a post on X on Wednesday, stating that the move deepens the exchange’s “long-term partnership with one of India’s most trusted and respected digital asset platforms.”
While specific details regarding the size of the stake and the investment amount were not disclosed, the regulatory approval follows an October notification indicating that Coinbase intended to invest in CoinDCX at a post-money valuation of approximately $2.4 billion.
At the time, Coinbase reported that CoinDCX generated around $141 million in annual revenue as of July, while denying earlier reports that it planned to acquire the company for $1 billion. However, given India’s market potential and the growing number of cryptocurrency holders in the country, billion-dollar investments may still prove justified.
Coinbase’s double return
India, the world’s most populous country with more than 1.4 billion people, represents a major and rapidly expanding market for the cryptocurrency industry. Estimates vary, but many industry participants suggest the country is home to over 100 million crypto users.
Notably, alongside its investment in CoinDCX, Coinbase is also preparing to re-enter the Indian market. According to some reports, beginning in 2026 the U.S.-based crypto exchange plans to enable fiat on-ramps for Indian users. If confirmed, this would mark Coinbase’s return to India more than two years after it ceased operations in the country in September 2023.
As we wrote, Indian crypto investors shift to diversified portfolios and SIPs, CoinDCX report
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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