In a move signaling renewed confidence in India’s digital asset landscape, U.S.-based crypto giant Coinbase has expanded its investment in CoinDCX, pushing the Indian exchange’s valuation to $2.45 billion post-money.

The fresh capital injection, announced on Wednesday, extends CoinDCX’s previous funding round and remains subject to regulatory approval and standard closing conditions.

While both companies declined to reveal the specific amount invested or Coinbase’s updated ownership stake, they confirmed that the valuation had climbed from $2.15 billion, recorded during CoinDCX’s last raise in April 2022.

CoinDCX confirmed to TechCrunch that this round represents new funding directly from Coinbase, which has been a backer since 2020 through its venture arm, Coinbase Ventures.

The latest investment follows Coinbase’s participation in CoinDCX’s Series D round in 2022.

This renewed partnership comes just months after CoinDCX experienced a security breach in July, leading to a loss of approximately $44 million in digital assets.

It also follows unverified reports earlier this year that Coinbase was planning to acquire CoinDCX — claims that were promptly dismissed by CoinDCX’s Chief Executive Officer, Sumit Gupta.

After briefly halting operations in India last year, Coinbase re-entered the Indian market earlier in 2025 by registering with the Financial Intelligence Unit (FIU).

Apart from CoinDCX, Coinbase is also an early investor in CoinSwitch, another major Indian crypto platform.

India — the world’s most populous nation with over a billion internet users — represents a massive potential market.

However, the country’s crypto sector remains constrained by regulatory uncertainty, including a 30% flat tax on crypto gains and a 1% levy on each transaction.

The government also restricts offshore crypto exchanges that fail to register with its financial watchdog.

Earlier this year, authorities placed 25 foreign crypto platforms, including BingX, LBank, and CoinW, under scrutiny for violating anti–money laundering regulations.

Despite these challenges, Coinbase’s decision to double down on CoinDCX appears strategic. CoinDCX currently boasts over 20.4 million users, customer assets exceeding ₹100 billion (about $1.12 billion), and annualized revenues of ₹11.79 billion (around $133 million).

The company’s total transaction volumes across its product suite have reached ₹13.7 trillion (roughly $154.6 billion).

CoinDCX has also been expanding beyond India, acquiring Dubai-based BitOasis in 2024 to establish a foothold in the Middle East and North Africa (MENA) region — one of the world’s fastest-growing crypto markets.

According to a company statement, the newly secured funds will be directed toward product development, user growth, geographic expansion, and educational initiatives aimed at deepening crypto literacy.

With this latest move, Coinbase is not only strengthening its global presence but also reaffirming its long-term bet on India’s emerging role in the global digital economy.

Source: Techcrunch