Coinbase (COIN.US) to invest in Indian cryptocurrency exchange CoinDCX to strengthen strategic positioning in India.

Coinbase (COIN.US) has invested in CoinDCX, headquartered in Mumbai, with the exchange operator aiming to deepen its business presence in India and the Middle East region. According to a statement on Wednesday, this investment is a continuation of CoinDCX's previous funding round, raising the company's post-investment valuation to $2.45 billion. CoinDCX's previous round of funding was in April 2022, led by Pantera Capital and Steadview Capital Management, with a funding amount of $135 million. At that time, the investors valued the company at $2.15 billion. Global cryptocurrency players including Binance and Bybit are attempting to expand in India, despite the country's punitive tax regime leading to a decrease in trading volume. Coinbase itself registered with the Indian Financial Intelligence Unit in March, paving the way for the company to provide services in India. In a blog post, Coinbase stated that this investment was based on their previous investment in CoinDCX through their Coinbase Ventures arm. Spokespersons for Coinbase and CoinDCX declined to disclose the size of the investment. CoinDCX is one of India's largest digital asset trading platforms, with a group annual revenue of 11.8 billion rupees (approximately $141 million) as of July 2025. According to data updated in September, their user base has exceeded 20 million.