India’s competition regulator has approved Coinbase’s plan to acquire a minority stake in CoinDCX, allowing the US-based exchange to deepen its exposure to one of the world’s fastest-growing crypto markets.
The Competition Commission of India (CCI) cleared the transaction on Wednesday, giving Coinbase the green light to invest in DCX Global Limited, the parent company of CoinDCX.
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Coinbase has been an investor in CoinDCX since 2020. The latest capital infusion signals a renewed commitment to India after the exchange reopened user registrations in the country last week following a two-year hiatus.
The approval follows Coinbase’s disclosure of the investment in mid-October and ends a volatile year for CoinDCX. In July, the exchange disclosed a $44.2 million security breach involving one of its wallets, although customer funds were not affected.
Coinbase’s new offensive in India comes as it seeks to rebuild its local footprint. The exchange resumed its integration last week with crypto-to-crypto exchanges and plans to roll out a rupee on-ramp in 2026, according to Asia Pacific director John O’Loghlen.
India remains a complex market for crypto companies due to high transaction taxes and regulatory uncertainty, but the CCI’s approval suggests policymakers are willing to allow global players a role in the country’s digital asset ecosystem under defined oversight.
