“The approval follows a challenging year for CoinDCX which included a significant security breach, although customer funds remained safe.”, — write: www.coindesk.com
The Competition Commission of India (CCI) cleared the transaction on Wednesday, giving Coinbase the green light to invest in DCX Global Limited, the parent company of CoinDCX.
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Coinbase has been an investor in CoinDCX since 2020. The latest capital infusion signals a renewed commitment to India after the exchange reopened user registrations in the country last week following a two-year hiatus.
The approval follows Coinbase’s mid-October disclosure of the investment and caps a volatile year for CoinDCX. In July, the exchange disclosed a $44.2 million security breach involving one of its wallets, although customer funds were not affected.
Coinbase’s renewed push into India comes as it looks to rebuild its local footprint. The exchange resumed onboarding last week with crypto-to-crypto trading and plans to roll out a rupee on-ramp in 2026, according to Asia-Pacific director John O’Loghlen.
India remains a complex market for crypto firms due to high transaction taxes and regulatory uncertainty, but the CCI’s approval suggests policymakers are willing to allow global players a role in the country’s digital asset ecosystem under defined oversight.
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XRP’s price chart paints a bearish picture, but a softer-than-expected US inflation could spark a rebound.
- XRP bears have finally established a solid foothold below the $2 support.
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- Other key indicators favor the bearish outlook.
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