U.S. Exchange Strengthens Bet on India’s Emerging Crypto Market
Coinbase has announced plans to increase its investment in CoinDCX, one of India’s largest cryptocurrency exchanges, marking a renewed push into the fast-growing Asian digital asset market. The deal, which values CoinDCX at $2.45 billion post-money, remains subject to regulatory approvals and other closing conditions.
According to statements shared by both companies on Wednesday, the move underscores Coinbase’s long-term confidence in India’s onchain economy and its expanding crypto user base. “This investment reflects our belief in India and the Middle East as key pillars of the future digital economy,” said Coinbase Chief Business Officer Shan Aggarwal, adding that it builds on earlier support through Coinbase Ventures.
CoinDCX, founded in 2018, has evolved into a regional leader, with a footprint that now extends to the United Arab Emirates following the acquisition of BitOasis earlier this year. The company reported annualized revenue of 11.79 billion rupees ($141 million) and transaction volumes of 13.7 trillion rupees ($165 billion) as of July 2025. It also oversees assets under custody exceeding 100 billion rupees ($1.2 billion) and serves more than 20 million users.
“This step represents more than capital—it’s validation of our mission to build a trusted, compliant crypto ecosystem across India and beyond,” said CoinDCX CEO Sumit Gupta. He added that the investment would accelerate the firm’s Web3 development initiatives under its Okto platform, while also boosting product innovation and user protection standards.
CoinDCX’s valuation marks an increase from its April 2022 funding round, when it raised $135 million at a $2.15 billion valuation. That round included backing from global investors such as Pantera Capital and Steadview Capital Management.
Industry observers view Coinbase’s renewed commitment as a signal of growing global investor confidence in India’s regulated crypto sector, especially amid efforts by domestic firms to comply with evolving tax and anti-money laundering standards.
With fresh capital, expanding infrastructure, and strategic partnerships, CoinDCX appears positioned to play a leading role in India’s next phase of crypto adoption.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.