Coinbase invests in CoinDCX valuing Indian crypto exchange at $2.45B

Coinbase has made a new investment in Mumbai-based CoinDCX, valuing the Indian cryptocurrency exchange at about $2.45 billion post-money, the companies said. The transaction, announced Wednesday, is intended to deepen Coinbase’s footprint in India and the Middle East and remains subject to regulatory approvals and customary closing conditions.

CoinDCX, founded in 2018, reported more than 20.4 million registered users and an annualized transaction volume of roughly $165 billion as of July 2025. The platform also manages over $1.2 billion in assets under custody and reported annualized revenue of about $141 million, figures the company provided in recent updates. CoinDCX offers a range of products including spot and futures trading, staking and lending, with a focus on INR-denominated futures contracts and tools aimed at more advanced traders.

The investment builds on an existing relationship: Coinbase has been an investor in CoinDCX through its venture arm since 2020, and this new injection extends the exchange’s latest fundraising round. CoinDCX cofounder and CEO Sumit Gupta said the financing will accelerate the company’s plans to roll out new Web3 products, expand into...