Crypto News: Coinbase Backs India’s Leading Exchange CoinDCX at $2.45B Valuation

Coinbase invests in India’s top exchange CoinDCX, boosting its valuation to $2.45B, marking the firm’s return to the Indian market.

 

Coinbase has made a strategic investment in CoinDCX, India’s largest cryptocurrency exchange, valuing the platform at $2.45 billion. This marks Coinbase’s re-entry into the Indian market after a two-year pause.

The move highlights Coinbase’s commitment to expanding its presence in the Middle East and Asia, regions that are increasingly becoming significant hubs for cryptocurrency adoption.

Coinbase Reenters the Indian Market

Coinbase investment in CoinDCX reflects a renewed interest in India’s growing crypto ecosystem. The deal raises CoinDCX’s valuation from $2.15 billion in April 2022 to $2.45 billion, signaling investor confidence in the exchange’s future.

The two companies did not disclose the exact amount invested, but the deal underscores the importance of India as a key market for global crypto platforms.

Shan Aggarwal, Coinbase’s Chief Business Officer, explained, “With more than 1.4 billion people and over 100 million crypto users, India and the Middle East are shaping the future of digital finance.” 

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He noted that CoinDCX has proven itself as a financially sound company with a rapidly growing user base. This investment further establishes Coinbase’s strategic interest in the region’s digital finance sector.

CoinDCX’s Impressive Growth and Market Performance

Founded in 2018, CoinDCX has quickly grown to become one of India’s leading crypto exchanges.

The company reported $141 million in annualized revenues as of July 2025, with over $165 billion in trading volumes. Additionally, it holds over $1.2 billion in assets under custody, demonstrating its strong market presence and operational scale.

CoinDCX’s growth comes despite challenges, including a recent hack in which the company lost $44 million. 

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However, the exchange assured users that no customer funds were affected by the breach. CoinDCX’s resilience in the face of such setbacks further reinforces its position as a trusted platform in India’s crypto ecosystem.

Strategic Focus on Product Innovation and Expansion

The new investment will be directed towards accelerating product innovation and expanding CoinDCX’s presence in India and the broader Middle East region.

CEO and co-founder Sumit Gupta shared,

“This fresh capital helps us accelerate our vision and enables us to take bolder and more ambitious bets.”

The funding will also help CoinDCX enter new markets and develop new products in the Web3 space.

In addition to expanding in India, CoinDCX has already begun expanding into the Middle East and North Africa (MENA) region. This is part of a broader strategy to diversify its market reach, following its acquisition of BitOasis last year.

As Coinbase and CoinDCX continue to collaborate, their combined efforts will likely further strengthen the position of both platforms in the global crypto market.

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