Coinbase Global Inc. secured regulatory approval from Indian authorities. This clearance allows the US-based exchange to acquire a minority stake in CoinDCX, one of India's prominent cryptocurrency exchanges.
The move formalizes Coinbase's investment and deepens its presence in the burgeoning Indian digital asset market. By collaborating with an established local leader, Coinbase aims to navigate India's complex regulatory landscape.
This strategic effort accelerates Coinbase's regional growth. The exchange seeks to tap into India's large and growing user base.
Specific details regarding the size of the minority stake or the financial terms of the deal have not been immediately released.