India, Dec. 17 -- The Competition Commission of India (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.

US-based Coinbase operates crypto exchange platforms in more than 100 countries and has recently expanded its operations to India.

Meanwhile, DCX Global is incorporated in Mauritius. The approved transaction involves Coinbase acquiring a non-controlling, minority shareholding in DCX.

In October this year, Coinbase announced a fresh investment in CoinDCX at a post-money valuation of $2.45 Bn as part of its strategy to scale its presence in India and the Middle East. Coinbase first invested in CoinDCX i...