Coinbase gets nod from Indian regulators to acquire CoinDCX stake
Indian regulators approved Coinbase's acquisition of a minority stake in the cryptocurrency platform CoinDCX.Summary
The Competition Commission of India has approved Coinbase Global's acquisition of a minority stake in CoinDCX, the company operating the Indian crypto exchange. Coinbase Chief Legal Officer Paul Grewal confirmed the approval, emphasizing the deepening of their long-term partnership. The exact percentage of the stake was not disclosed by either the regulator or Coinbase. This regulatory clearance follows an October announcement where Coinbase indicated plans to invest in CoinDCX, which was valued at approximately $2.4 billion post-money at that time. Furthermore, Coinbase is reportedly planning a return to the Indian market by rolling out fiat on-ramps for local users starting in 2026, following a halt of services in September 2023.
(Source：Cointelegraph)