{"id":878651,"date":"2025-12-18T23:17:09","date_gmt":"2025-12-19T05:17:09","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/12\/18\/coinbase-wins-india-approval-for-2-45b-coindcx-stake\/"},"modified":"2025-12-18T23:17:09","modified_gmt":"2025-12-19T05:17:09","slug":"coinbase-wins-india-approval-for-2-45b-coindcx-stake","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/12\/18\/coinbase-wins-india-approval-for-2-45b-coindcx-stake\/","title":{"rendered":"Coinbase Wins India Approval for $2.45B CoinDCX Stake"},"content":{"rendered":"
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Crypto Journalist<\/p>\n

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Anas Hassan<\/p>\n

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Crypto Journalist<\/p>\n

Anas Hassan<\/span>\"Verified\"<\/span>\n <\/p>\n<\/p><\/div>\n

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Part of the Team Since<\/p>\n

Jun 2025<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

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About Author<\/p>\n

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.<\/p>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n

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Last updated:\u00a0<\/p>\n

\"Coinbase<\/p>\n

Coinbase has received<\/a> regulatory approval from India\u2019s Competition Commission to acquire a minority stake in CoinDCX valued at $2.45 billion, marking a crucial milestone in the US exchange\u2019s expansion into one of Asia\u2019s fastest-growing crypto markets.<\/p>\n

The clearance follows months of regulatory review and deepens Coinbase\u2019s partnership with India\u2019s largest digital asset platform.<\/p>\n

Chief Legal Officer Paul Grewal called<\/a> the approval an \u201cimportant regulatory milestone<\/em><\/strong>\u201d that strengthens Coinbase\u2019s long-term commitment to CoinDCX, which now serves over 20.4 million users across India and the UAE with more than $1.2 billion in assets under custody.<\/p>\n

The investment builds on Coinbase\u2019s initial backing of CoinDCX in 2020 and comes after the Indian exchange faced significant security challenges earlier this year.<\/p>\n

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We appreciate the Competition Commission of India approval of our proposal to acquire a minority stake in @CoinDCX<\/a>, marking an important regulatory milestone and deepening Coinbase\u2019s long-term partnership with one of India\u2019s most established and trusted digital asset platforms. pic.twitter.com\/IzTmJkyO7u<\/a><\/p>\n

\u2014 paulgrewal.eth (@iampaulgrewal) December 17, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Recovery Following $44 Million Security Breach<\/span><\/h2>\n

The approval arrives seven months after CoinDCX suffered a major hack that compromised $44 million<\/a> from an internal liquidity account. <\/p>\n

Cybersecurity firm Cyvers linked the July incident to North Korea\u2019s Lazarus Group<\/a>, noting the attack followed the same pattern as the $234 million WazirX breach that occurred exactly one year earlier.<\/p>\n

Hackers executed the theft in just five minutes across seven rapid transactions, siphoning funds after conducting test transactions days earlier. <\/p>\n

Indian police later arrested<\/a> a CoinDCX software engineer whose compromised credentials allegedly enabled the breach. <\/p>\n

However, the employee claimed that hackers exploited his system while he worked as a freelancer using company equipment.<\/p>\n

CoinDCX CEO Sumit Gupta confirmed customer funds remained secure throughout the incident and launched a recovery bounty program offering up to 25% of retrieved assets, potentially worth $11 million.<\/p>\n

Coinbase explicitly referenced the breach in its investment statement, writing that CoinDCX\u2019s response to challenges \u201conly strengthened our conviction in their team and platform.<\/em>\u201c<\/p>\n

Strategic Positioning in Key Growth Markets<\/span><\/h2>\n

The investment reinforces Coinbase\u2019s presence in India and the Middle East, following CoinDCX\u2019s acquisition of Dubai-based BitOasis<\/a> last year.<\/p>\n

Coinbase described<\/a> both regions as \u201ctop regions for crypto growth<\/em><\/strong>\u201d driven by high adoption rates, supportive regulation, and substantial economic potential.<\/p>\n

Gupta said the fresh capital would accelerate new product launches across the Web3 ecosystem while enabling market expansion and enhanced security infrastructure. <\/p>\n

He called the investment \u201cmore than just capital<\/em><\/strong>,\u201d adding that \u201cit\u2019s a deep vote of confidence in our mission, approach, and team.<\/em>\u201c<\/p>\n

The funding comes as Coinbase simultaneously reopened direct operations in India<\/a> following a two-year hiatus, now offering crypto-to-crypto trading with plans to integrate rupee deposits by 2026.<\/p>\n

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The company\u2019s return required full regulatory compliance after suspending services in 2023, when payment processors blocked its access to the Unified Payments Interface.<\/p>\n

John O\u2019Loghlen, Coinbase\u2019s Asia-Pacific director, explained that forcing existing customers to close their accounts ran counter to typical business strategy but established a clean regulatory slate. <\/p>\n

Coinbase subsequently secured Financial Intelligence Unit registration alongside competitors, including Binance, KuCoin, and Bybit, all of which faced similar regulatory obstacles before paying penalties and resuming operations.<\/p>\n

Broader Strategic Expansion Beyond India<\/span><\/h2>\n

The CoinDCX deal strengthens Coinbase\u2019s foothold in a market where citizens hold approximately $4.5 billion in digital assets<\/a>, despite restrictive tax policies, including a 30% profit levy and a mandatory 1% transaction tax. <\/p>\n

India consistently ranks among the top countries in global crypto adoption indices, though the Reserve Bank continues to oppose cryptocurrencies due to financial stability concerns.<\/p>\n

Coinbase now employs over 500 people across India while continuing to hire for both domestic and international operations. <\/p>\n

Grewal recently joined<\/a> the US-India Business Council board to strengthen bilateral commercial relationships.<\/p>\n

The CoinDCX investment aligns with Coinbase\u2019s broader expansion into new product categories and markets.<\/p>\n

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The exchange recently launched prediction markets through a partnership with Kalshi<\/a>, introduced stock trading capabilities, and announced Solana integration at its San Francisco product showcase, where CEO Brian Armstrong declared<\/a> that \u201cCoinbase is now the best place to trade every asset, not just crypto.<\/em>\u201c<\/p>\n

The company also filed<\/a> with US regulators for a National Trust Company Charter to offer payments and financial services without relying on third-party banks. It also recently relocated<\/a> its corporate registration from Delaware to Texas to improve regulatory efficiency and flexibility.<\/p>\n

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\n Anthony Schildgen<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto Journalist Anas Hassan Crypto Journalist Anas Hassan Part of the Team Since Jun 2025 About Author Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech. Last updated:\u00a0 December 18, 2025 Coinbase has received regulatory approval from India\u2019s Competition Commission to<\/p>\n","protected":false},"author":1,"featured_media":878652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22217,126],"tags":[],"class_list":{"0":"post-878651","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-coinbase","8":"category-india"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/878651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=878651"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/878651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/878652"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=878651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=878651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=878651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}