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Coinbase to Increase Investment in One of India’s Largest Crypto Exchanges
The planned deal sets a $2.45 billion post-money valuation and follows CoinDCX’s April 2022 raise of $135 million at a $2.15 billion valuation.
Updated Oct 15, 2025, 7:24 a.m. Published Oct 15, 2025, 6:44 a.m.
What to know:
- Coinbase agreed to invest in CoinDCX; completion is subject to regulatory approvals and customary conditions.
- CoinDCX is one of India’s largest exchanges with operations expanding in the Middle East.
- In April 2022, CoinDCX raised $135 million at a $2.15 billion valuation.
Coinbase has agreed to invest in CoinDCX, one of India’s largest crypto exchanges, in a transaction that remains subject to regulatory approvals and other customary closing conditions, according to statements published Wednesday by Coinbase Chief Business Officer Shan Aggarwal and CoinDCX co-founder and CEO Sumit Gupta.
Aggarwal framed the move as a long-term bet on India and the Middle East’s role in the onchain economy, citing population scale, rising tech adoption and a large base of crypto users. He said the commitment builds on earlier support through Coinbase Ventures and aligns with Coinbase’s expanding local operations and partnerships.
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Aggarwal also highlighted operating scale reported as of July 2025: annualized group revenue of 11.79 billion rupees ($141 million), annualized transaction volumes of 13.7 trillion rupees ($165 billion), assets under custody above 100 billion rupees ($1.2 billion) and a user base exceeding 20 million.
Gupta called the investment an extension of CoinDCX’s previous fundraise and said it values the company at $2.45 billion post money, reiterating that closing remains contingent on approvals. He credited Coinbase’s backing 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.
Gupta pointed to expansion via the BitOasis acquisition and growth of the Okto Web3 product suite, saying fresh capital will accelerate product launches, market entries, and security initiatives.
For context, in April 2022, CoinDCX raised $135 million at a $2.15 billion valuation; Bloomberg reports Pantera Capital and Steadview Capital Management led the round, while Reuters notes that Coinbase Ventures participated.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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