Coinbase Receives Nod to Acquire Minority Stake in CoinDCX

• Competition Commission of India approves Coinbase’s minority stake in CoinDCX at $2.45B valuation.
• The deal solidifies Coinbase’s “clean” re-entry into India following the WazirX trust collapse.
• Coinbase targets 2026 for full fiat integration, backed by a new FIU license and state partnerships.

Coinbase has officially solidified its return to the Indian market, receiving regulatory approval from the Competition Commission of India (CCI) to acquire a minority stake in CoinDCX. 

The deal, which values the Indian exchange at approximately $2.45 billion, signals a strategic pivot for the US giant as it moves to entrench itself in the world’s leading nation for crypto adoption.

Coinbase Receives Nod to Acquire Minority Stake in CoinDCX 

According to the announcement from CCI, Coinbase exchange can proceed to acquire a minority stake in CoinDCX, which is owned by DCX Global Limited and operated by Neblio Technologies. As such, Coinbase will legally offer CoinDCX technical and financial support for growing its business operations to the global markets.

The CCI’s approval solidifies Coinbase’s notable investment in CoinDCX. Furthermore, Coinbase Venture participated in a $135 million fundraising for CoinDCX, which valued the company at $2.15 billion. Earlier in October, Coinbase Exchange made another investment in CoinDCX, which valued the company at $2.45 billion.

Related: Coinbase Returns to India with FIU Approval, Eyes 2026 for Fiat Integration

Restoring Trust After the WazirX Collapse

The Indian crypto market has grown rapidly in the past year catalyzed by the clear regulatory framework, which changed after a prolonged desire from the government to ban the industry. The re-entry of Coinbase in the Indian market will help restore trust and catalyze the mainstream adoption of crypto assets.

Furthermore, the collapse of WazirX, after hackers stole $230 million, severely damaged the trust for India’s crypto exchanges and thus slowing down crypto adoption in the largest market for digital assets and web3.

However, Coinbase has in the recent past accelerated its campaign to reenter the Indian market legally. For instance, On December 3, the Karnataka government signed an MoU with Coinbase to accelerate web3 knowledge and investment in the state using its Base network.

Related: Indian State Karnataka Partners With Coinbase To Back ‘Base’ Startup

Earlier this month, Coinbase announced that it had obtained an operating license from the Financial Intelligence Unit (FIU), India’s top financial regulator. As such, Coinbase is well-positioned to re-enter India’s crypto market in 2026, which ranked first in the Chainalysis’ 2025 global crypto adoption index.

According to Paul Grewal, the Chief Legal Officer at Coinbase, the CCI’s nod is a significant milestone in catalyzing the mainstream adoption of digital assets in India. Grewal’s view was backed by Sumt Gupta, co-founder and CEO at CoinDCX, who added that the deal will improve trust in the web3 and crypto space in India.

“Getting this first of its kind CCI approval is absolutely an important regulatory milestone and IMO a big win for the Indian crypto ecosystem long term. This will go a long way in building trust in the space and unlocking access to global capital,” Gupta stated.