Coinbase Gets Nod from Indian Regulators to Acquire CoinDCX Stake

The Competitors Fee of India, the regulatory physique chargeable for selling honest competitors within the nation, has authorized Coinbase buying a minority stake in cryptocurrency platform CoinDCX.

In a Tuesday discover, the regulator said it had authorized Coinbase International’s minority stake acquisition in DCX International Restricted, the corporate behind CoinDCX. Coinbase chief authorized officer Paul Grewal confirmed the information in a Wednesday X submit, saying it deepened the change’s “long-term partnership with considered one of India’s most established and trusted digital asset platforms.”

Neither the regulatory announcement nor Grewal’s submit included details about the proportion of Coinbase’s stake within the crypto change. Cointelegraph reached out to a Coinbase spokesperson for remark, however had not obtained a response on the time of publication. 

The regulatory approval adopted an October discover that Coinbase was planning to invest in CoinDCX with a post-money valuation of about $2.4 billion. Coinbase reported on the time that CoinDCX had about $141 million in annual income as of July, however denied earlier reports that it was planning to buy the corporate outright for $1 billion.

Associated: CoinDCX report shows Indian users moving to broader crypto portfolios in 2025

Coinbase can also be returning to the Indian market

In accordance to reviews from final week, the US-based crypto change was planning to roll out fiat on-ramps to India-based customers beginning in 2026. The transfer, if confirmed, would mark Coinbase’s return to India greater than two years after it halted providers in September 2023.