The Coinbase India expansion received regulatory approval this week. India's competition watchdog cleared the investment in CoinDCX on Tuesday. The Competition Commission of India approved Coinbase Global's minority stake in DCX Global Limited.
CoinDCX ranks among India's largest crypto platforms. The exchange serves millions of users across the country. Coinbase chief legal officer Paul Grewal confirmed the news on X Wednesday.
Coinbase India Expansion Targets Billion-User Market
Paul Grewal described the Coinbase India expansion as deepening their partnership. According to"> Paul Grewal on X, the transaction strengthens long-term collaboration. The exact stake size remains undisclosed by both parties.
Coinbase revealed plans in October to invest at a $2.4 billion valuation. CoinDCX generated approximately $141 million in annual revenue by July. The company clarified it wasn't pursuing a full $1 billion acquisition.
India represents a massive opportunity for crypto firms. The country hosts over 1.4 billion people. Industry estimates suggest more than 100 million crypto users nationwide.
The Coinbase India expansion reportedly includes fiat on-ramps launching in 2026. This would mark market re-entry after exiting in September 2023. Regulatory and banking challenges forced the previous withdrawal.
Platform Unveils Stock Trading and AI Tools
Coinbase unveiled sweeping changes at its System Update conference Wednesday. The exchange announced US stock trading capabilities launching immediately. Users can now access 24/7 global trading of stocks and ETFs.
The platform added prediction markets through a Kalshi partnership. Users can trade outcomes tied to sports and politics. Forecasts predict prediction market revenues hitting $10 billion by 2030.
Coinbase Advisor debuted as an AI-powered investment assistant. The beta tool offers guidance across crypto, stocks, and prediction markets. Human portfolio managers provide oversight alongside automated insights.
The exchange introduced custom USDC-backed stablecoins for companies. Businesses can issue branded digital dollars embedded in products. Coinbase Tokenize helps institutions bring traditional assets on-chain.
The platform expanded decentralized trading through deeper Solana integrations. US traders gained simplified access to futures and perpetual contracts. Base layer-2 app now operates in over 140 countries.
