Coinbase has been reported in “Advanced Discussion” to get CoindCX, the recent -hacked Indian Crypto Exchange where it has a stake, according to a local news report.
If completed, the deal will be appreciated by less than a billion dollars and deepen Coinbase’s relationships in the Indian market, According to In a report from Mint on Monday, citing two unnamed resources familiar with this matter.
“The Coinbase sees it as a long -term strategic stake,” one of the resources said to Mint, adding:
“The purchase of CoindCX in this discount is an important appreciation that it is essentially a cheap gamble-the positioning itself for potential reversal if the event of Indian crypto market eventually grows older.”
A Coinbase spokesman told Cointelegraph that “they did not comment on rumors or speculations.”
“We have a brave mission to increase economic independence in the world, and continue to explore opportunities around the world to build, buy, partner and invest to speed up our roadmap.”
Reported appreciation is a huge removal from $ 2.2 billion appreciation COINDCX received In April 2022.
Coindcx recovered from $ 44 million hack
The incident came around 11 days after Coindcx suffered a $ 44.2 million hack On July 18, the attackers violated an operational wallet and dried it for a few minutes.
Coindcx security setup ensures all Customer funds remained unaffected.
Coinbase may consider increasing its stakes to another Indian crypto exchange
Another option reportedly weighted is to combine Coinbase’s stakes with CoindCX and Coinswitch, another large exchange of Indian crypto, one of two sources told Mint, which is added, however, that no formal conversation is being conducted.
Related: Coinbase accused man using a Coinbase -like URL to earn money
It came while Coinbase registered Indian intelligence unit In March – it is likely to be signed its desire to expand its presence in the most popular country in the world.
Coinbase is in an acquisition spree
Meanwhile, in May, completed by Coinbase A $ 2.9 billion cash-and-stock acquisition of the derivit as part of a move to position it as leader in the crypto derivatives market.
Earlier this month, also the Coinbase obtained liquid, A token management platform that delivers an early stage of onchain builders.
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