TLDR
- Coinbase invested in Indian crypto exchange CoinDCX at a post-money valuation of $2.45 billion to expand in India and the Middle East
- CoinDCX has 20.4 million users and reported $165 billion in annualized transaction volumes as of July 2025
- The exchange holds $1.2 billion in assets under custody and generates $141 million in annualized revenue
- The investment follows a $44 million security exploit that hit CoinDCX in July 2025
- The deal remains subject to regulatory approval and financial terms were not disclosed
U.S. cryptocurrency exchange Coinbase announced Wednesday it is investing in CoinDCX, one of India’s largest crypto exchanges. The investment values CoinDCX at $2.45 billion on a post-money basis.
Fueling the Next Phase of Growth 🚀
I am excited to share that @Coinbase has entered into an agreement to make an investment in @CoinDCX (closing subject to regulatory approvals) valuing us at $2.45B post-money.
But this isn't just about capital, it is about conviction in our… pic.twitter.com/zwodLXGTjY
— Sumit Gupta (CoinDCX) (@smtgpt) October 15, 2025
The deal marks Coinbase’s latest push to expand its presence in emerging markets. The company specifically cited India and the Middle East as key regions for future crypto growth.
“India and the Middle East are set to play a big role in the future of crypto,” said Shan Aggarwal, Coinbase’s chief business officer. CoinDCX is positioned at the center of the region’s growth opportunity.
CoinDCX was founded in 2018 and has grown to serve over 20.4 million users. The platform reported $165 billion in annualized transaction volumes across its products as of July 2025.
The exchange holds more than $1.2 billion worth of assets under custody. It generates approximately $141 million in annualized revenue.
This is not Coinbase’s first investment in CoinDCX. Coinbase Ventures has participated in multiple funding rounds for the Indian exchange since 2020.
Strategic Market Expansion
Coinbase CEO Brian Armstrong highlighted the potential of these markets on social media. He noted there are already over 100 million crypto holders in India and the Middle East.
The investment comes as foreign exchanges find it easier to invest directly in Indian crypto companies. This is compared to operating under India’s Financial Intelligence Unit regulations.
Industry experts suggest the deal could encourage more partnerships between local and foreign exchanges. The investment follows a compliance-first approach focused on transparency and trust.
CoinDCX CEO Sumit Gupta emphasized the strategic alignment between the two companies. Beyond capital, the partnership brings shared values on how to build crypto infrastructure.
Recent Security Challenges
The investment comes months after CoinDCX faced security issues. In July 2025, the exchange suffered a $44.2 million hack.
Hackers disguised themselves as recruiters and targeted a CoinDCX software engineer. They convinced the engineer to install malware on his company laptop.
CoinDCX absorbed the losses from its treasury reserves. The hack occurred one year after WazirX, another prominent Indian exchange, lost $230 million in a separate exploit.
At the time of the July incident, Gupta dismissed rumors about a potential Coinbase acquisition. He stated clearly that CoinDCX was not for sale.
The financial terms of the current investment were not disclosed by either company. Coinbase declined to provide additional details beyond its official announcement.
The deal remains subject to regulatory approval for closure. Both companies are working through the necessary compliance processes.
