Coinbase to Increase Its Investment in Indian Exchange CoinDCX

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.

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.