Daniel Walker
Coinbase is strengthening its global reach with a new investment in CoinDCX, one of India’s leading cryptocurrency exchanges. Announced on Wednesday, this move marks Coinbase’s renewed push into India and the Middle East, two regions viewed as key growth markets for the future of digital assets.
According to Shan Aggarwal, Coinbase’s Chief Business Officer, the investment underscores the exchange’s confidence in the rapid crypto adoption taking place across these regions.
“India and the Middle East are poised to become major players in the future of crypto, and CoinDCX is a high-growth, financially sound company positioned perfectly to scale within this booming ecosystem,” Aggarwal said in the official release.
Coinbase has previously shown confidence in CoinDCX’s trajectory, having participated in multiple funding rounds through Coinbase Ventures since 2020. The latest investment deepens that partnership, signaling Coinbase’s strategic intention to establish a strong operational and investment presence in emerging markets.
CoinDCX Valued at $2.45 Billion Post-Investment
While Coinbase did not disclose the exact financial terms of the deal, CoinDCX Co-founder and CEO Sumit Gupta revealed that the transaction places the company’s post-money valuation at $2.45 billion. The deal is currently pending regulatory approval before final completion.
Neither Coinbase nor CoinDCX has provided additional details beyond the official announcement. PRIME also noted that CoinDCX has not yet responded to requests for further comment.
A Rapidly Growing Exchange
Founded in 2018, CoinDCX has quickly evolved into one of India’s most trusted crypto platforms. As of July, the exchange boasts over 20.4 million registered users and reports an annualized transaction volume of $165 billion across its suite of products. Additionally, the company holds $1.2 billion in assets under custody and generates an annualized revenue of $141 million, demonstrating both scale and operational efficiency.
The exchange’s impressive performance comes despite the challenging regulatory climate surrounding crypto in India. Industry observers see Coinbase’s investment as a vote of confidence in both CoinDCX’s resilience and the broader potential of India’s digital asset ecosystem.
Overcoming Security Challenges
CoinDCX’s expansion hasn’t been without setbacks. In July 2024, the exchange suffered a $44 million security breach after hackers posing as recruiters tricked a company engineer into installing malware on his work laptop. The incident came nearly a year after WazirX, another major Indian exchange, experienced a $230 million exploit.
Despite these challenges, CoinDCX acted swiftly to bolster its cybersecurity infrastructure, reassuring users and partners that its operations and reserves remained secure.
A Strategic Step for Coinbase
This investment aligns with Coinbase’s long-term strategy to diversify its global exposure amid evolving regulations in the U.S. market. By expanding into India and the Middle East, Coinbase aims to tap into the growing pool of crypto users and developers emerging from these regions.
With CoinDCX’s local expertise and Coinbase’s global resources, the partnership could accelerate mainstream crypto adoption across South Asia and the Gulf region — two of the world’s fastest-growing digital economies.
As regulatory clarity improves, Coinbase’s move could serve as a blueprint for other major exchanges seeking to enter high-growth markets while leveraging partnerships with established regional players like CoinDCX.
