Coinbase is investing in Coindcx, an exchange of encryption active in India and the Middle East. Coinbase is based on its previous investment in Coindcx through Coinbase Ventures.
This investment emphasizes that possible coinbase sees in these areas. With over 1.4 billion people, increasing technology adoption and over 100 million encryption owners, India and the Middle East are going to play an important role in the future of Crypto-and Coindcx is a high-growth, economically healthy businesses built for the center of growth.
This investment adds to the growing presence of Coinbase in the area, where it also maintains local businesses and other important local partners.
This transaction is subject to regulatory approvals and other usual closing conditions.
Coinbase commented:
“We are excited to work alongside Coindcx and other partners in the area to make encryption more accessible, more useful and more reliable for millions of people and we will continue to look for opportunities for working with manufacturers across India as we expand.”