Coinbase Secures Approval to Invest in CoinDCX Stake

US-based crypto exchange Coinbase has taken a significant step toward rebuilding its presence in India after receiving approval from the Competition Commission of India (CCI) to acquire a minority stake in CoinDCX, one of the country’s leading digital asset platforms. While the exact size of the investment has not been disclosed, CoinDCX is currently valued at approximately $2.45 billion, underscoring the scale of the opportunity.

The approval follows Coinbase’s announcement in October that it was exploring an investment in CoinDCX. With regulatory clearance now secured, the move is widely seen as a strategic milestone in Coinbase’s long-term India roadmap. By partnering with a well-established local platform, Coinbase aims to leverage CoinDCX’s market credibility, regulatory experience, and growing user base.

Coinbase previously faced regulatory and operational challenges in India, which forced the exchange to scale back certain activities. However, the company has recently resumed onboarding Indian users, signaling renewed commitment to the market. Industry reports suggest Coinbase plans a gradual rollout of products, with a potential fiat on-ramp expected by 2026, depending on regulatory developments.

CoinDCX, meanwhile, encountered a $44 million security breach earlier this year. Despite the incident, the company’s leadership has emphasized that the breach will not derail its long-term growth strategy. Coinbase’s investment is widely interpreted as a vote of confidence in CoinDCX’s governance, recovery measures, and commitment to responsible growth within the crypto ecosystem.

Analysts note that this deal reflects India’s increasing openness to foreign participation in its digital asset sector, even as the regulatory framework continues to evolve. Coinbase’s involvement could help strengthen trust in the Indian crypto market, both domestically and internationally.

Overall, the CCI approval marks a pivotal step in Coinbase’s effort to re-establish itself in India, aligning its global expansion goals with one of the world’s fastest-growing crypto markets while adapting to local regulatory realities.