India Regulator Clears Coinbase Investment in CoinDCX

This means that Coinbase has some renewed momentum in one of the world’s largest crypto markets. At the same time, Coinbase used its year-end “System Update” conference to unveil a sweeping expansion beyond just crypto trading, including the launch of stock trading in the US, Kalshi-powered prediction markets, an AI-driven investment adviser, custom USDC-backed stablecoins, and a brand new tokenization platform.

India Clears Coinbase Stake in CoinDCX

India’s competition regulator approved Coinbase’s acquisition of a minority stake in CoinDCX. In a notice that was issued on Tuesday, the Competition Commission of India said it cleared Coinbase Global’s investment in DCX Global Limited, the parent company of CoinDCX, one of India’s most established cryptocurrency platforms.

Coinbase chief legal officer Paul Grewal confirmed the approval in a post on X on Wednesday, and described the transaction as a step that deepens Coinbase’s long-term partnership with CoinDCX. While the regulatory filing and Grewal’s comments confirmed the minority nature of the investment, neither revealed the size of the stake or the financial terms involved.

The approval follows disclosures made in October, when Coinbase revealed plans to invest in CoinDCX at a post-money valuation of roughly $2.4 billion. At that time, Coinbase said CoinDCX was generating approximately $141 million in annual revenue as of July, despite regulatory uncertainty and shifting market conditions in the country. Coinbase also pushed back against earlier reports suggesting it was pursuing a full acquisition of CoinDCX for around $1 billion, and clarified that its interest was limited to a minority position rather than an outright takeover.

CoinDCX is a key player in India’s crypto ecosystem, serving millions of users as a compliant, locally rooted platform. The investment from Coinbase, which is one of the world’s largest publicly listed crypto exchanges, is seen as a vote of confidence in both CoinDCX’s business model and the long-term potential of the Indian market.

The deal also comes as Coinbase explores a broader return to India after previously scaling back its presence. According to reports last week, Coinbase is considering the rollout of fiat on-ramps for Indian users beginning in 2026. If implemented, the move would mark Coinbase’s re-entry into the market more than two years after it stopped services in September of 2023 due to regulatory and banking challenges.

India’s appeal to global crypto firms is also strong due to its sheer scale and growing adoption of digital assets. With a population of more than 1.4 billion and industry estimates suggesting more than 100 million crypto users nationwide, the country has one of the largest potential user bases in the world. 

Coinbase Unveils Major Expansions

Meanwhile, Coinbase used its year-end “System Update” conference on Wednesday to share an ambitious expansion beyond its core crypto exchange business. It unveiled a broad set of new products that push the company further into stocks, prediction markets, tokenization, stablecoins and AI-driven financial services.

The biggest reveal was the launch of stock trading on Coinbase, which begins rolling out in the United States. The company framed the move as a step toward enabling 24/7 global trading of stocks and ETFs using crypto-powered infrastructure. By adding equities to its platform, Coinbase now joins a crowded field of companies that already combine crypto and traditional assets, while also looking to get ahead of rivals offering tokenized stocks outside the US. 

Coinbase also announced the addition of prediction markets through a partnership with Kalshi, which will allow users to trade outcomes tied to events like sports and politics. The rollout starts immediately and will expand more broadly in the US, placing Coinbase among a growing group of companies targeting what analysts expect to be an expanding market. In fact, industry forecasts suggest that prediction market revenues could reach $10 billion by the end of the decade.

Another interesting launch was Coinbase Advisor, an AI-powered investment assistant that is designed to offer guidance across crypto, stocks and prediction markets. The tool is currently in beta for select users, and it combines automated insights with oversight from human portfolio managers.

On the infrastructure side, Coinbase revealed plans to offer custom stablecoins backed by USDC, which will make it possible for companies to issue branded digital dollars embedded directly into their products. It also introduced Coinbase Tokenize, a full-service platform that is aimed at helping institutions bring traditional assets on-chain by bundling issuance, custody, compliance and trading. 

 The exchange further expanded decentralized trading via deeper Solana integrations, simplified access to futures and perpetual contracts for US traders, and confirmed that its Base layer-2 app is now available in more than 140 countries.