CCI Clears Coinbase’s Investment In CoinDCX

by · Inc42

SUMMARY

  • CCI has approved Coinbase Global Inc’s plan to acquire a minority stake in DCX Global Ltd, the entity that owns crypto unicorn CoinDCX’s brand, technology, and intellectual property
  • This is after Coinbase announced a fresh investment in CoinDCX in October this year, at a post-money valuation of $2.45 Bn as part of its strategy to scale its presence in India and the Middle East
  • Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX is one of India’s largest crypto exchanges and became the country’s first crypto unicorn in 2021