The Competition Commission of India (CCI) has cleared Coinbase‘s plan to acquire a minority stake in CoinDCX, signaling a strategic move in India’s crypto market. Coinbase‘s Chief Legal Officer, Paul Grewal, confirmed the development, saying the step deepens the long-standing partnership with CoinDCX and supports shared growth in digital-asset services. The decision reflects prudent, regulation-aligned expansion in a maturing market.

Exact stake details remain undisclosed, and Coinbase has denied talks of a full acquisition valued near $1 billion. The October-announced plan valued CoinDCX at about $2.4 billion post-money with annual revenue near $141 million, underscoring scale within the Indian ecosystem. The approval lays groundwork for joint product initiatives and market localization, contingent on regulatory clarity and continued demand for crypto services.