This move helps Coinbase grow its role in the Indian crypto market. India is one of the fastest growing places for digital assets and many global firms want a presence there.
The approval was given this week by the national competition body. With this decision Coinbase can invest in the parent company of CoinDCX. This clears the final step needed for the deal to move forward.
Coinbase has supported CoinDCX for several years. It first invested in the company in two thousand twenty. This new investment shows that Coinbase wants to build stronger ties with India after a long break from the market.
Coinbase recently started accepting new users in India again. The platform had paused activity for about two years. Now it has returned with a focus on basic crypto trading. More services are planned for the future as rules become clearer.
This approval comes after a difficult year for CoinDCX. Earlier this year the company reported a security issue linked to one of its wallets. The loss was large but the company confirmed that user funds were safe. This helped maintain trust among its users during a tough time.
Despite that event CoinDCX continues to operate and serve a large user base. The support from Coinbase adds confidence and stability. It also shows that global firms still see long term value in the Indian market.
Coinbase is now working on rebuilding its presence in the country. It plans to slowly expand its services. One major goal is to allow users to move local currency into crypto more easily. This feature is expected to arrive in the future once approvals are in place.
India remains a challenging place for crypto firms. High taxes on trades and unclear rules have slowed growth. Many users and companies remain cautious. Still interest in crypto remains strong among young users and developers.
The approval from the competition authority sends a positive signal. It shows that regulators are open to global firms taking part as long as rules are followed. This could help bring more investment and innovation into the local market.
For Coinbase this move is about the long term. The company sees India as a key region for future growth. By working with a local platform it can learn the market and build trust step by step.
For CoinDCX the partnership brings fresh support and global experience. It also helps the company recover from past challenges and focus on growth.
Overall this decision marks a steady step forward for crypto in India. While challenges remain the door is open for responsible growth under clear oversight.