Coinbase Backs India’s CoinDCX at $2.45 Billion Valuation to Strengthen Crypto Presence in Asia

Coinbase is deepening its footprint in Asia with a new investment in CoinDCX, one of India’s leading cryptocurrency exchanges, valuing the company at $2.45 billion. The move reflects Coinbase’s growing focus on emerging markets like India and the Middle East, which are seen as key regions for the next wave of crypto adoption.

“India and the Middle East are set to play a big role in the future of crypto – and CoinDCX is a high-growth, financially sound business built for scale at the center of the region’s massive growth opportunity,” said Shan Aggarwal, Coinbase’s Chief Business Officer, in a company statement on Wednesday.

While Coinbase did not disclose the size of the investment, the deal remains subject to regulatory approval. CoinDCX co-founder and CEO Sumit Gupta confirmed the exchange’s post-money valuation at $2.45 billion following the transaction. Coinbase has been a longtime backer of CoinDCX through Coinbase Ventures, participating in several funding rounds since 2020.

Founded in 2018, CoinDCX has grown into one of India’s most prominent crypto platforms, boasting over 20 million users and $165 billion in annualized trading volume as of July. The company also manages $1.2 billion in assets under custody and reports $141 million in annualized revenue.

However, the exchange has also faced challenges. In July, CoinDCX was targeted in a $44 million hack after a phishing scheme compromised an employee’s device. The breach underscored the ongoing cybersecurity risks facing digital asset firms, following a similar high-profile exploit of WazirX, another Indian exchange, last year.

Despite such incidents, global interest in India’s crypto ecosystem remains strong. With its massive user base, expanding fintech infrastructure, and increasing regulatory clarity, India continues to attract international investment — and Coinbase’s latest move signals confidence in the market’s long-term potential.