Coinbase Doubles Down on India, Invests in CoinDCX at $2.45 Bn Valuation

Coinbase has made a fresh investment in Indian crypto exchange CoinDCX, valuing the company at $2.45 billion post-money, the firms said. The investment comes under Coinbase’s strategy to deepen its foothold in India and the wider West Asia and North Africa region.

Coinbase described the move as an extension of its prior backing of CoinDCX via Coinbase Ventures and said the region’s large population, rising mobile-internet penetration and growing crypto user base make India and neighbouring markets “central” to the future on-chain economy.

The transaction remains subject to regulatory approvals and customary closing conditions.

CoinDCX Fund Utilisation

CoinDCX, which reported annualised group revenue of about ₹1,179 crore (~$141m) and assets under custody near ₹10,000 crore (~$1.2bn) as of July 2025, said the fresh capital will support product launches, geographic expansion and deeper work in web3 and security. The exchange also said it had more than 20 million users at mid-2025.

The timing of the deal is notable. CoinDCX suffered a high-profile security breach in July that led to the theft of roughly $44 million in assets, though the firm subsequently said user funds were protected and withdrawals resumed.

The investment signals investor confidence in CoinDCX’s recovery and security upgrades, even as India’s crypto regulatory framework remains unsettled.

Coinbase India Re-entry

For Coinbase, the investment follows its recent re-entry moves in India (including local registrations) and fits a broader play to partner with regional exchanges to scale products and on-the-ground compliance.

Observers say such local partnerships help global platforms navigate country-specific rules, build market share faster and hedge regulatory risk. Coinbase’s public statements framed the tie-up as part of a long-term regional strategy covering product, compliance and education.

Market implications are twofold: CoinDCX gains a deep strategic backer that can accelerate international expansion (notably in MENA, where CoinDCX recently acquired BitOasis), while Coinbase cements distribution and local expertise without building everything from scratch.

The unknowns that could shape outcomes include the size of the undisclosed investment, the pace of regulatory approvals in India and other jurisdictions, and whether rival exchanges will see follow-on partnership activity.