TLDR
- Coinbase has invested in Indian crypto exchange CoinDCX, valuing the platform at $2.45 billion post-money
- CoinDCX serves over 20.4 million users with $165 billion in annualized trading volume as of July 2025
- The investment aims to expand Coinbase’s presence in India and Middle East crypto markets
- Deal follows a $44 million hack that hit CoinDCX in July 2025
- Financial terms were not disclosed and the deal requires regulatory approval
Coinbase has announced a new investment in CoinDCX, India’s leading cryptocurrency exchange. The deal values CoinDCX at $2.45 billion on a post-money basis.
The investment represents Coinbase’s latest effort to expand into emerging crypto markets. The company is targeting India and the Middle East as priority regions for growth.
Shan Aggarwal, Coinbase’s chief business officer, said India and the Middle East will play a major role in crypto’s future. CoinDCX operates at the center of this regional opportunity.
CoinDCX has built a substantial user base since its 2018 founding. The platform now serves more than 20.4 million users across its products.
The exchange reported $165 billion in annualized transaction volumes as of July 2025. It also holds over $1.2 billion in assets under custody.
CoinDCX generates approximately $141 million in annualized revenue. These metrics position it as one of India’s largest cryptocurrency platforms.
Previous Investment History
This marks an expansion of an existing relationship between the two companies. Coinbase Ventures has invested in CoinDCX through multiple funding rounds since 2020.
The latest investment deepens this partnership with undisclosed financial terms. Both companies declined to provide specific details about the investment amount.
Coinbase CEO Brian Armstrong highlighted the market potential on social media. He noted there are already over 100 million crypto holders in India and the Middle East combined.
CoinDCX CEO Sumit Gupta emphasized the strategic alignment between the companies. He said the partnership focuses on compliance-first business practices.
The investment comes as foreign crypto exchanges seek new ways to enter Indian markets. Direct investment has become easier than navigating India’s Financial Intelligence Unit regulations independently.
Security Incident and Recovery
The deal follows security challenges for CoinDCX earlier this year. In July 2025, hackers stole $44.2 million from the exchange.
The attackers posed as recruiters and targeted a CoinDCX software engineer. They tricked the employee into installing malware on a company laptop.
CoinDCX covered the losses using its treasury reserves. The incident occurred one year after WazirX, another Indian exchange, lost $230 million in a separate hack.
At the time of the July breach, Gupta rejected acquisition rumors. He stated that CoinDCX was not for sale.
Industry experts view the investment as part of a broader strategy. Monica Jasuja from Emerging Payments Association Asia called it a “partner to penetrate” model for complex regulatory markets.
The investment could connect India’s technology and user base with Middle East capital. This creates a regional corridor between two fast-growing crypto markets.
Deal Status and Next Steps
The transaction remains subject to regulatory approval. Both companies are working through required compliance processes before closing the deal.
The investment reflects growing interest in Asian crypto markets among major exchanges. India’s regulatory environment continues to evolve for cryptocurrency businesses.
CoinDCX plans to use the investment to scale operations across India and the Middle East. The partnership brings both capital and strategic guidance from Coinbase’s global experience.
