New Delhi: Fair trade regulator CCI on Tuesday approved US-based cryptocurrency platform Coinbase's proposal to acquire a minority stake in DCX Global Ltd. The development came after Coinbase Global in October announced that it had made an investment in CoinDCX, a leading crypto exchange in India and the Middle East.
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The Competition Commission of India (CCI) said it has granted its nod for the proposed deal. "Commission approves the proposed combination involving acquisition of minority shareholding in DCX Global Limited by Coinbase Global Inc," the regulator said in a post on X. In October, Coinbase said it is making an investment in CoinDCX, a leading crypto exchange in India and the Middle East, building on our prior investments in CoinDCX via Coinbase Ventures.
As of July 2025, CoinDCX's annualised group revenue is Rs 1,179 crore (USD 141 million), and annualised transaction volumes across products are Rs 13.7 lakh crore (USD 165 billion). Its assets under custody are over Rs 10,000 crore (USD 1.2 billion), and the user base exceeds 20.4 million. In another deal approval, CCI allowed the acquisition of a 19.9 per cent equity stake in Logisteed Holdings, Ltd by Japan Post Co, Ltd.
Japan Post Co, Ltd is globally engaged in postal operations, sales of documentary stamps, logistics business, real estate business, international cargo transport, bank and insurance agency services, etc. The competition watchdog said in another post on X, "Commission approves acquisition of 19.9 per cent equity stake in Logisteed Holdings, Ltd by Japan Post Co, Ltd". Logisteed Holdings, Ltd, through its affiliates, is globally engaged in the business of third-party logistics/ contract logistics, heavy machinery transportation and freight forwarding.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace. Coinbase operates crypto-exchange platforms in more than 100 countries globally, while DCX owns the technology, brand, and other relevant intellectual property of the "CoinDCX" crypto-exchange business in India. The Coin DCX crypto exchange is operated by Neblio Technologies Pvt Ltd.
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