- Coinbase received approval from India‘s competition authority to buy a minority stake in CoinDCX.
- This investment reflects Coinbase’s renewed focus on the Indian crypto market following a two-year pause.
- CoinDCX experienced a significant security incident earlier this year but continues operations without customer fund losses.
- Coinbase has resumed user registrations in India and aims to introduce a fiat-crypto on-ramp in 2026.
- India’s regulatory environment for cryptocurrencies remains complex, but this approval signals openness to global participation under oversight.
Coinbase has obtained clearance from the Competition Commission of India (CCI) to acquire a minority stake in DCX Global Limited, the parent company of CoinDCX. This approval was granted on Wednesday, allowing the U.S.-based cryptocurrency exchange to expand its presence in the Indian market, one of the fastest-growing areas for digital assets globally.
Since 2020, Coinbase has been an investor in CoinDCX. The latest funding move underscores its commitment to India, especially after reopening user registrations in the country last week following a two-year suspension. The transaction was publicly disclosed by Coinbase in mid-October.
Earlier this year, CoinDCX disclosed a security breach involving one of its wallets that led to a loss of approximately $44.2 million. Importantly, customer funds were not compromised during the incident.
As part of its expanded efforts in India, Coinbase has restarted onboarding users with crypto-to-crypto trading. The company plans to launch a fiat-to-crypto (rupee) on-ramp in 2026, according to Asia-Pacific director John O’Loghlen.
India’s cryptocurrency market faces challenges such as high transaction taxes and unclear regulations. However, the CCI’s approval of this deal indicates a willingness among regulators to integrate major international players within a structured regulatory framework.
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