The regulatory approval followed an October notice from Coinbase saying that the exchange would be investing an undisclosed amount into the Indian exchange.
The Competition Commission of India, the regulatory body responsible for promoting fair competition in the country, has approved Coinbase acquiring a minority stake in cryptocurrency platform CoinDCX.
In a Tuesday notice, the regulator said it had approved Coinbase Global’s minority stake acquisition in DCX Global Limited, the company behind CoinDCX. Coinbase chief legal officer Paul Grewal confirmed the news in a Wednesday X post, saying it deepened the exchange’s “long-term partnership with one of India’s most established and trusted digital asset platforms.”
Neither the regulatory announcement nor Grewal’s post included information about the percentage of Coinbase’s stake in the crypto exchange. Cointelegraph reached out to a Coinbase spokesperson for comment, but had not received a response at the time of publication.
