CCI Approves Coinbase’s Investment in Indian Crypto Exchange CoinDCX

Coinbase Global Inc.'s proposal to purchase a minority share in DCX Global Ltd., the company that controls the brand, technology, and intellectual property of cryptocurrency unicorn CoinDCX, has been accepted by the Competition Commission of India (CCI). Coinbase, a US-based company, has lately extended its operations to India and runs cryptocurrency trading platforms in over 100 countries.

In the meantime, DCX Global was established in Mauritius. Coinbase will purchase a minority, non-controlling stake in DCX as part of the authorised deal. As part of its plan to expand its footprint in India and the Middle East, Coinbase announced a new investment in CoinDCX in October of this year, with a post-money valuation of $2.45 billion. CoinDCX was initially invested in by Coinbase.

2025 the Most Challenging Year for Cryptocurrency Exchange

It is important to note that the cryptocurrency exchange had a difficult year in 2025. Following a $234 million heist at WazirX, CoinDCX experienced a $44 million (about INR 378 crore) security breach in July, making it one of the biggest cryptocurrency hacks in India. An internal hot wallet used for liquidity activities was the focus of the attack. CoinDCX stated it used its internal treasury to absorb the financial effect of the attack and started a bug bounty program.

The CTO, CHRO, and CISO were among the senior executives who left as a result of the incident. In terms of finances, CoinDCX claimed that its net profit increased by 15% from INR 1.5 Cr in FY24 to INR 1.7 Cr in FY25. Compared to INR 391.8 Cr in the prior fiscal year, operating revenue increased 43% to INR 559.6 Cr.

CoinDCX Among One of Largest Exchange in India

One of India's biggest cryptocurrency exchanges, CoinDCX, was founded in 2018 by Sumit Gupta and Neeraj Khandelwal. In 2021, it became the nation's first cryptocurrency unicorn. So far, it has raised more than $240 million.

The site boasts more than 500 listed cryptocurrency assets, more than 2 Cr users, and quarterly trading volumes of more than INR 2.4 Lakh Cr. CoinDCX is active in both the UAE and India. Last year, it acquired BitOasis, a company based in Dubai, to penetrate the Middle East market.