Coinbase to Invest in India’s CoinDCX in $2.45B Valuation Deal

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

Aggarwal described the move as a long-term strategic bet on India and the Middle East, highlighting population scale, rising technology adoption, and a large crypto user base. The investment builds on Coinbase’s previous support through Coinbase Ventures and aligns with the firm’s expanding local operations and partnerships.

He noted CoinDCX’s operating scale as of July 2025: annualized revenue of 11.79 billion rupees ($141 million), transaction volumes of 13.7 trillion rupees ($165 billion), assets under custody exceeding 100 billion rupees ($1.2 billion), and a user base of over 20 million.

Gupta framed the investment as an extension of CoinDCX’s prior funding and emphasized that closing remains contingent on approvals. He credited Coinbase’s ongoing support since 2020 and described the step as a vote of confidence in the team’s mission to build a trusted, compliant platform across India, the UAE, and beyond.

The CEO also pointed to recent growth initiatives, including the BitOasis acquisition and expansion of the Okto Web3 product suite, noting that fresh capital will accelerate product launches, market entries, and security enhancements.

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