Coinbase Expands Its Global Footprint with Investment in CoinDCX

The Competition Commission of India (CCI) approved Coinbase's acquisition of a minority stake in DCX Global Ltd. This move follows Coinbase's previous investments and strengthens their presence in India. Logisteed Holdings also sees investment from Japan Post. CCI regulates such deals to ensure fair competition.

The Competition Commission of India (CCI) gave the green light to Coinbase's acquisition of a minority stake in DCX Global Ltd, showcasing the expansion of the U.S.-based cryptocurrency platform into the Indian market.

Announced in October, Coinbase's investment in CoinDCX bolsters its prior engagements via Coinbase Ventures. CoinDCX commands a strong presence in India and the Middle East with a substantial user base and financial metrics.

Additionally, the CCI approved Japan Post Co, Ltd's acquisition of a stake in Logisteed Holdings, Ltd, highlighting the regulatory body's ongoing efforts to maintain fair competition amidst significant market transactions.

(With inputs from agencies.)