Coinbase Deepens India Comeback With CoinDCX Investment
The minority stake in CoinDCX reflects a slower, regulation-first approach in one of crypto’s most tightly watched markets.
Crypto users in India have had to get used to sudden changes. Platforms launch, pause services, or exit without much warning. Payment options come and go, and rules often feel unclear until they're enforced. This uneven experience has made both users and companies cautious. It's against this backdrop that Coinbase is making its next move in India.
After more than two years away, Coinbase has quietly begun rebuilding its presence in the country. The company recently reopened its app for new registrations, letting users trade crypto to crypto again. Speaking at India Blockchain Week, Coinbase’s Asia Pacific director said the company also plans to add a fiat on-ramp in 2026, which would allow users load local currency and buy crypto directly. That announcement signaled a long-term return rather than a short test.
Oluwajeminipe Fasheun-Motesho
Coinbase puts money behind its India comeback
Now, Coinbase is backing that return with a concrete investment. India’s competition regulator, the Competition Commission of India (CCI), has approved Coinbase’s plan to buy a minority stake in DCX Global Limited, the parent company of CoinDCX. CoinDCX is one of India’s best-known crypto exchanges and has continued operating locally even as rules tightened and foreign firms pulled back.
Coinbase confirmed the approval in mid December. Its chief legal officer described the move as a step that strengthens a long-standing partnership with CoinDCX. The exact size of Coinbase’s stake hasn't been made public, but earlier disclosures suggested the deal values CoinDCX at around $2.4 billion after funding. Coinbase has also said the investment is strategic, not a takeover.
This matters because India’s crypto market is heavily regulated and closely watched. Foreign companies cannot simply launch products and hope for the best. They need local partners, regulatory clearance, and patience. By taking a minority stake instead of buying the company outright, Coinbase is signaling that it wants to work within India’s system rather than push against it.
David Adubiina
CoinDCX brings local knowledge, compliance experience, and an existing user base. Coinbase brings global infrastructure, liquidity, and product experience. Together, they cover each other’s weak spots. Reports suggest CoinDCX generated over $140 million in annual revenue as of mid 2024, making it one of the stronger players still standing in the Indian market.
This also clears up earlier rumors. Some reports had claimed Coinbase planned to buy CoinDCX in a billion-dollar acquisition. Coinbase later denied those claims, and this approval confirms that the strategy is a smaller, focused investment instead.
Stepping back, this move fits a broader pattern. Coinbase is expanding in markets where rules are becoming clearer but still strict. India is one of those places. Regulators want oversight, tax reporting, and consumer protection. Companies want scale and stability. Partnerships like this are one way to bridge that gap.
Emmanuel Oyedeji
For Indian users, the change will not be immediate. Fiat trading is still at least a year away. But the signals are important. Coinbase isn't just reopening an app. It's tying itself to a local exchange, getting regulatory approval, and planning ahead.
In a space that has seen plenty of quick entries and sudden exits, Coinbase is taking a more patient approach. By backing CoinDCX instead of going it alone, the company is choosing partnership and local trust over speed. The move signals a belief that India’s crypto market is settling into a more mature phase, where long-term commitment, compliance, and steady growth matter.
