Coinbase Moves to Strengthen Presence in India Through Exchange Investment

Coinbase to Boost Investment in India’s CoinDCX at $2.45B Valuation

Coinbase has agreed to invest in CoinDCX, one of India’s largest cryptocurrency exchanges, in a deal valuing the company at $2.45 billion post-money, subject to regulatory approvals and customary closing conditions, according to Shan Aggarwal, Coinbase’s Chief Business Officer, and CoinDCX CEO Sumit Gupta.

Aggarwal described the investment as a long-term strategic bet on India and the Middle East, citing rising tech adoption, a large crypto user base, and population scale. The move builds on Coinbase Ventures’ prior support and aligns with the firm’s growing regional operations.

As of July 2025, CoinDCX reported annualized revenue of 11.79 billion rupees ($141M), transaction volumes of 13.7 trillion rupees ($165B), assets under custody above 100 billion rupees ($1.2B), and a user base exceeding 20 million.

Gupta called the investment an extension of previous fundraising, highlighting Coinbase’s backing since 2020 as a vote of confidence. The capital will support product launches, regional expansion, and security initiatives, including the BitOasis acquisition and growth of the Okto Web3 suite.

For context, in April 2022, CoinDCX raised $135M at a $2.15B valuation, with participation from Coinbase Ventures, Pantera Capital, and Steadview Capital Management.