CCI Approves Coinbase Deal To Buy Minority Stake In CoinDCX Parent

The Competition Commission of India (CCI) on Tuesday approved Coinbase Global Inc.'s proposal to acquire a minority stake in DCX Global Limited, the holding company behind the CoinDCX cryptocurrency exchange in India.

Coinbase, a US-based cryptocurrency exchange operating in over 100 countries, has recently entered the Indian market.

DCX Global Limited, incorporated in Mauritius, owns the technology, brand and intellectual property associated with the CoinDCX platform. The crypto exchange in India is operated by Neblio Technologies Pvt. Ltd.

Under the proposed transaction, Coinbase will acquire a minority shareholding in DCX Global without obtaining majority ownership or control.

A detailed order of the competition watchdog is expected to follow.

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