India’s Competition Commission (CCI) has approved Coinbase’s acquisition of a minority stake in crypto exchange CoinDCX, valuing the company at $2.45 billion. The decision paves the way for Coinbase to deepen its presence in India as it prepares a broader market return, including plans to launch a rupee on-ramp in 2026 and expand local operations.

CoinDCX CEO Sumit Gupta said the approval marks a key regulatory milestone and a “big win for the Indian crypto ecosystem,” strengthening market confidence and enabling greater access to global capital. Coinbase has not disclosed the size of its investment.