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Indian Authorities Clear Coinbase’s Funding In CoinDCX
The Competitors Fee of India has authorized Coinbase’s acquisition of a minority stake in native cryptocurrency alternate CoinDCX after a year-long course of. In accordance with a discover, the antitrust watchdog confirmed that Coinbase and CoinDCX have met all regulatory necessities below Indian regulation, greenlighting the acquisition.
Following the approval, Coinbase International will maintain a minority shareholding in DCX International Restricted, the dad or mum firm of CoinDCX. Whereas Coinbase didn’t give precise figures, CoinDCX disclosed that the deal valued the alternate at practically $2.5 billion.
Coinbase Chief Authorized Officer Paul Grewal hailed the approval as an “necessary regulatory milestone” for the US-based alternate in its quest to develop its world attain. CoinDCX holds a large market share in India and Southeast Asia with rising footprints within the Center East and North Africa (MENA).
“We recognize the Competitors Fee of India approval of our proposal to amass a minority stake in CoinDCX, marking an necessary regulatory milestone and deepening Coinbase’s long-term partnership with one among India’s most established and trusted digital asset platforms,” mentioned Grewal in an X publish.
 
Coinbase first introduced its intention to buy a minority stake in CoinDCX in October. Beforehand, the Indian alternate had refuted claims of an imminent Coinbase acquisition earlier than confirming the receipt of a suggestion from the US-based alternate.
Barely weeks after Coinbase signaled its acquisition intent, the alternate suffered a jarring hack, shedding practically $44 million within the course of. Pundits say the hack could have put a dent in Coinbase’s acquisition plans amid heightened regulatory scrutiny.
Coinbase’s Tango With India
Coinbase has had a storied historical past with India, having first arrange store within the nation in 2022. An try to combine with India’s UPI funds system triggered a robust regulatory pushback, forcing the alternate to shut its operations in 2023.
By early 2025, Coinbase threw its hat within the ring once more, registering with India’s Monetary Intelligence Unit (FIU) in compliance with native anti-money laundering guidelines. In the intervening time, the US alternate has reopened consumer registrations in India after two years offline amid plans to introduce rupee on-ramps and fiat buying and selling in 2026.
