Overview
- The Competition Commission of India approved Coinbase’s purchase of a non-controlling minority interest in DCX Global, the Mauritius entity that owns CoinDCX’s brand, technology and intellectual property.
- The deal reflects an implied CoinDCX valuation of about $2.45 billion, while Coinbase has not disclosed the precise size of its investment.
- Coinbase has restarted onboarding in India after a two-year pause with crypto-to-crypto trading live, and it says a rupee on-ramp is targeted for 2026.
- The investment extends Coinbase’s relationship with CoinDCX that began with a 2020 Series A backing through Coinbase Ventures.
- CoinDCX disclosed a $44.2 million internal-wallet breach in July 2025 that it says did not affect customer funds, intensifying regulatory and investor scrutiny.