PANews reported on December 18 that the Indian Competition Commission has approved Coinbase's acquisition of a minority stake in DCX Global Limited (the company behind the crypto platform CoinDCX). Subsequently, Coinbase's Chief Legal Officer Paul Grewal confirmed this news in a post on X. Neither the regulatory announcement nor Grewal's post mentioned the percentage of ownership Coinbase holds in the crypto exchange.
Previously, an announcement in October stated that Coinbase planned to invest in CoinDCX, with a post-investment valuation of approximately $2.4 billion for CoinDCX. Coinbase reported at that time that as of July, CoinDCX's annual revenue was around $141 million, but denied previous reports that it planned to fully acquire the company for $1 billion.