Coinbase to Invest in CoinDCX, Strengthening Its Bet on India’s Crypto Market

Coinbase has announced plans to invest in CoinDCX, one of India’s largest cryptocurrency exchanges, marking a major step in its commitment to expanding across India and the Middle East. The deal, which remains subject to regulatory approvals and customary closing conditions, was confirmed by Coinbase Chief Business Officer Shan Aggarwal and CoinDCX co-founder and CEO Sumit Gupta on Wednesday.

Aggarwal described the investment as a long-term strategic move reflecting Coinbase’s confidence in India’s growing role in the onchain economy. He emphasized the country’s vast population, rapid technology adoption, and large community of crypto users as key factors driving the decision. The new investment builds upon earlier support from Coinbase Ventures, reinforcing the company’s broader push to expand local partnerships and operations in the region.

According to data shared by Aggarwal, CoinDCX reported impressive scale as of July 2025, including annualized revenue of ₹11.79 billion ($141 million), transaction volumes of ₹13.7 trillion ($165 billion), assets under custody exceeding ₹100 billion ($1.2 billion), and a user base of over 20 million.

Gupta noted that the investment extends CoinDCX’s previous fundraising efforts and places its post-money valuation at $2.45 billion. He credited Coinbase’s continued support since 2020 and called the move a strong vote of confidence in CoinDCX’s mission to build a secure, compliant, and accessible crypto ecosystem across India, the UAE, and other markets.

Highlighting CoinDCX’s acquisition of BitOasis and the expansion of its Okto Web3 suite, Gupta said the funding will accelerate new product launches, market growth, and enhanced security infrastructure. In April 2022, CoinDCX raised $135 million at a $2.15 billion valuation, with Pantera Capital, Steadview Capital, and Coinbase Ventures participating in that round.