Coinbase CoinDCX Deal Gets CCI Approval, Boosts India Crypto Path

CCI Approves Coinbase CoinDCX Deal for Minority Stake Acquisition

The Coinbase CoinDCX Deal has received a major regulatory green light in India. The Competition Commission of India (CCI) has approved US-based cryptocurrency platform Coinbase’s proposal to acquire a minority stake in DCX Global Ltd, the parent company of CoinDCX.

Source: X Official

The Coinbase CoinDCX Deal follows Coinbase Global’s October announcement confirming an investment in DCX Global Ltd, building on its earlier backing through CoinbaseVentures. CCI approval is mandatory for large cross-border investments in Indian markets, and now with the permission, the transaction clears a key regulatory hurdle.

The move signals that global crypto giants are once again testing Indian market despite regulatory uncertainty. Market observers and experts see this move as a signal of renewed institutional confidence. But note that, the development does not imply regulatory clarity for crypto trading in India.

Why US Platform Choose India, Especially DCX Global Ltd?

India is rapidly emerging as the top crypto adopting country worldwide, ranked first three consecutive times in the reports of Chainalysis digital asset adoption. 

And now, adoption is expanding beyond metro cities, with Tier-2 and Tier-3 regions seeing rapid growth. Between FY23 and FY25, the country collected ₹1,096 crore ($121.7 million) in crypto TDS, while investigations uncovered ₹1,000+ crore ($111 million) in undisclosed crypto income.

As for CoinDCX selection, founded in 2018 by Sumit Gupta and Neeraj Khandelwal, the platform emerged as India’s largest crypto exchanges, which currently serves over 20.4 million users and offers trading across 500+ crypto assets.

According to company filings cited by the media:

• Annualised group revenue: ₹1,179 crore (USD 141 million)

• Annualised transaction volume: ₹13.7 lakh crore (USD 165 billion)

• Assets under custody: Over ₹10,000 crore (USD 1.2 billion)

For FY25, the exchange reported ₹559.6 crore ($62.1 million) in operating revenue and a net profit of ₹1.7 crore, showing improving financial stability.

The Investment Equally Matters For India 

Coinbase has been a key force in the cryptocurrency industry since its launch in 2012 and is now the largest crypto exchange in the United States by trading volume. 

According to the company’s latest financial disclosures, its trailing twelve-month (TTM) revenue stands at around $7.36–$7.69 billion, reflecting strong business momentum. In 2024, the US largest virtual trading platform reported revenue of $6.25 billion (+117.61%), more than doubling from $2.87 billion in 2023. 

Adding to the momentum, the Coinbase CoinDCX Deal approval comes after a turbulent phase for CoinDCX in 2025. In July, the exchange reported a security breach in which about $44 million was stolen from an internal hot wallet used for daily liquidity. 

CoinDCX said it absorbed the loss from its treasury, launched a bug-bounty programme, and strengthened security controls. The incident also led to senior exits from its technology and security teams.

In Short: The Benefit For Both

With growing adoption, and rising institutional interest, India is becoming one of the most important long-term markets for digital assets and blockchain innovation. Coinbase could benefit from its USD 3.98 billion in value in 2025 which is further projected to reach USD 11.07 billion by 2031, growing at a CAGR of 18.65%. Its pro-crypto population, generally includes youth, works as an attractive force as many of the biggest global players want to deepen their involvement in the Indian market.

While users won’t see immediate changes, the Coinbase CoinDCX Deal could pave the way for improved compliance, liquidity, and global integration over time. Especially as the nation still lacks regulatory scrutiny and faces challenges.