CCI approves Coinbase’s minority stake acquisition in CoinDCX parent DCX Global
CCI has cleared US-based crypto exchange Coinbase’s minority stake acquisition in DCX Global, the parent of CoinDCX. The approval follows Coinbase’s fresh investment announced in October 2025, building on its backing of CoinDCX since 2020.
Fair trade regulator CCI on Tuesday approved US-based cryptocurrency platform Coinbase's proposal to acquire a minority stake in DCX Global Ltd.
The development came after Coinbase Global in October 2025 announced a fresh investment into CoinDCX,
a crypto exchange operating in India and the Middle East.
The Competition Commission of India (CCI) said it has granted its nod for the proposed deal.
"Commission approves the proposed combination involving the acquisition of minority shareholding in DCX
Global Limited by Coinbase Global Inc," the regulator said in a post on X.
Coinbase has been an investor in CoinDCX since 2020, when it first backed the exchange as part of its Series A funding round. The latest investment marks an extension of CoinDCX’s earlier fundraise and signals a deepening of the strategic partnership between the two firms.
In October, Coinbase said it is making an investment in CoinDCX, a leading crypto exchange in India and the Middle East, building on its prior investments via Coinbase Ventures. CoinDCX said at the time that the capital would be used to enhance product offerings, introduce new on-chain use cases for India, and expand into new markets.
CoinDCX currently operates in the Middle East and North Africa (MENA) region through its acquisition of BitOasis in 2024.
As of July 2025, CoinDCX's annualised group revenue is Rs 1,179 crore ($141 million), and annualised transaction volumes across products are Rs 13.7 lakh crore ($165 billion). Its assets under custody are over Rs 10,000 crore ($1.2 billion), and the user base exceeds 20.4 million.
The investment comes months after CoinDCX disclosed a $44.2 million security breach in July 2025. The company had said it absorbed the full loss from its own treasury and that no customer funds were impacted. CoinDCX has also seen senior leadership exits this year, including its Chief Technology Officer and Head of Legal.
Coinbase operates crypto-exchange platforms in over 100 countries and has been expanding its India presence over the years, including through investments and acquisitions. In 2021, the company acquired Bengaluru-based conversational AI startup Agara to strengthen its customer experience capabilities.
DCX owns the technology, brand, and other relevant intellectual property of the "CoinDCX" crypto-exchange business in India.
(Along with inputs from PTI)
Edited by Affirunisa Kankudti