Well, I say, old bean, the Competition Commission of India-those chaps responsible for keeping things spick and span in the marketplace-have given the nod to Coinbase, that jolly American outfit, to snaffle up a minority stake in CoinDCX, the rather spiffing cryptocurrency platform. Top hole, what?
In a notice plonked out on Tuesday, the regulator chappies confirmed they’ve given the green light to Coinbase Global’s little venture into DCX Global Limited, the brains behind CoinDCX. Paul Grewal, the chief legal officer at Coinbase (a fellow who clearly knows his onions), chimed in on X the very next day, declaring it a corker of a move that deepens their “long-term partnership with one of India’s most established and trusted digital asset platforms.” Quite the mouthful, eh? 🧐✨
Now, neither the regulator’s announcement nor Grewal’s post spilled the beans on the exact percentage of Coinbase’s stake. Rather cryptic, if you ask me. CryptoMoon tried to get a squeak out of a Coinbase spokesperson, but no joy so far. Still, one can’t help but wonder-how much of the pie have they nabbed? 🥧🤔
This jolly approval comes hot on the heels of an October tittle-tattle that Coinbase was planning to pop a few quid into CoinDCX, valuing it at a cool $2.4 billion. Coinbase let slip that CoinDCX was raking in about $141 million in annual revenue as of July, but they were quick to squash rumors of a full-on buyout for $1 billion. No sirree, they’re not swallowing the whole caboodle. 🤑
Coinbase Tiptoes Back into India’s Arms
And here’s the real pip-reports from last week suggest Coinbase is gearing up to roll out fiat on-ramps for India-based users starting in 2026. Rather sporting of them, considering they packed up and left in September 2023. Two years is a jolly long time in the crypto game, but better late than never, eh? ⏳🇮🇳
With India’s population topping 1.4 billion-that’s a lot of chaps and chapesses-it’s no small potatoes for the cryptocurrency industry. Word on the street is there are over 100 million crypto users in the country. Quite the goldmine, if you ask me. 🌟💎
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2025-12-18 01:27