Coinbase Backs CoinDCX as Valuation Hits $2.45 Billion

Coinbase Expands in India with Strategic Investment in CoinDCX

Cryptocurrency exchange Coinbase has invested an undisclosed amount in Mumbai-based platform CoinDCX, pushing the latter’s valuation to $2.45 billion, according to Bloomberg.

This investment is part of Coinbase Ventures’ earlier funding round. CoinDCX last raised $135 million at a valuation of $2.15 billion, in a round led by Pantera Capital and Steadview Capital Management.

Expansion Strategy Focused on India and Middle East

Coinbase’s move aligns with its broader expansion strategy in India and the Middle East, regions the company believes are critical for further cryptocurrency adoption. High adoption levels make these markets particularly attractive for long-term growth.

CoinDCX is among India’s largest exchanges. Its parent group generates annual revenue of approximately $141 million, with the platform serving 20 million users as of the end of August 2025.

The investment deal is pending regulatory approval, and the financial terms remain undisclosed.

Earlier reports suggested Coinbase was in talks to acquire CoinDCX for roughly $1 billion, but CEO Sumit Gupta denied these rumors.

Security Challenges and Resilience

In July 2025, CoinDCX experienced a security breach, losing over $44 million from its operational funds. The breach was reportedly caused by malware on an employee’s laptop. No user funds were affected, as all customer assets were stored in secure cold wallets. The exchange absorbed the loss from its treasury and took additional measures to strengthen internal security, demonstrating resilience despite the incident.

CoinDCX has since enhanced multi-factor authentication, implemented real-time transaction monitoring, and conducted regular internal audits to prevent future breaches. The company also emphasizes user education and awareness programs to ensure clients adopt safe security practices when managing their accounts.