The Competition Commission of India has approved Coinbase acquiring a minority stake in CoinDCX, a cryptocurrency platform. The exact percentage of Coinbase’s stake was not disclosed. Coinbase reported CoinDCX’s post-money valuation at $2.4 billion, with $141 million in annual revenue as of July. Coinbase is set to relaunch in India, a market with over 100 million crypto users.

Coinbase’s minority stake acquisition in CoinDCX was approved by the Competition Commission of India. The exact percentage of Coinbase’s stake was not disclosed. Coinbase reported CoinDCX’s post-money valuation at $2.4 billion, with $141 million in annual revenue as of July. Coinbase is returning to the Indian market, which has over 100 million crypto users.

Read more at Cointelegraph: Coinbase Gets Nod from Indian Regulators to Acquire CoinDCX Stake