Coinbase deepens India presence after approval of CoinDCX deal
India's competition regulator approved Coinbase's plan to acquire a minority stake in CoinDCX, boosting its presence in the growing crypto market.Summary
The Competition Commission of India (CCI) approved Coinbase's transaction to acquire a minority stake in DCX Global Limited, the parent company of CoinDCX. This move deepens the U.S.-based exchange's exposure to India's rapidly expanding crypto market. Coinbase has been an investor in CoinDCX since 2020, and this latest capital infusion signals a renewed commitment, following the exchange's decision last week to reopen user registrations in India after a two-year pause. The approval comes after a volatile year for CoinDCX, which experienced a security breach in July, though customer funds were unaffected. Coinbase is planning to roll out a rupee on-ramp in 2026, despite India remaining a complex market due to high taxes and regulatory uncertainty, suggesting policymakers are allowing global players a role under defined oversight.
(Source：CoinDesk)