Coinbase Invests in CoinDCX at $2.45B Valuation Amid India Push

In Brief

• Coinbase invests new capital in CoinDCX, raising its valuation to $2.45 billion.
• CoinDCX plans global expansion and deeper regulatory compliance with fresh funding.
• Coinbase eyes India and MENA as critical markets for future crypto growth.

Coinbase has invested fresh capital in CoinDCX, raising the Indian crypto exchange’s valuation to $2.45 billion post-money. This investment extends CoinDCX’s previous funding round and awaits regulatory clearance under India’s financial rules.

CoinDCX confirmed it is not an acquisition, but a strategic funding move from Coinbase, which first invested in 2020. The deal follows Coinbase’s re-entry into India earlier this year after registering with the Financial Intelligence Unit.

Coinbase has also invested in India’s CoinSwitch and sees the region as key to the global on-chain economy. Despite tough tax rules, including a 30% flat crypto gains tax, Coinbase is expanding steadily.

CoinDCX, founded in 2018, reports over 20.4 million users and $1.2 billion in customer assets under custody. Annualised revenue has reached $133 million with total trading volume surpassing $154 billion across platforms.

Coinbase said CoinDCX’s response to a $44 million hack in July proved its leadership strength and platform resilience. The Indian exchange covered losses from internal funds, maintaining customer trust and platform integrity.

CoinDCX to Expand Globally While Reinforcing Regulatory Focus

CoinDCX stated it will use the new funds to grow into new markets and enhance product development and user education. The company will also increase its focus on security standards and regulatory compliance in key regions.

Co-founder Sumit Gupta called the funding a clear vote of confidence in CoinDCX’s mission and regulatory-first approach. He emphasised transparency and safety as core priorities for growth in India and abroad.

CoinDCX expanded into the Middle East last year by acquiring BitOasis, a move that could also benefit Coinbase in its regional growth efforts. Coinbase views India and MENA as key drivers of future global crypto adoption.

Speculation persists about Coinbase introducing regulated crypto ETFs in India, pending future regulatory clarity. Industry experts say this could unlock major investor interest and reshape India’s digital asset landscape.