Coinbase announced Wednesday it is investing in Indian crypto exchange CoinDCX to expand its presence across India and the Middle East. The deal values CoinDCX at $2.45 billion post-money.
“India and the Middle East are set to play a big role in the future of crypto,” said Shan Aggarwal, Coinbase's chief business officer. He described CoinDCX as a high-growth, financially sound business positioned at the center of a massive regional growth opportunity.
Coinbase previously invested in CoinDCX through Coinbase Ventures, participating in multiple funding rounds since 2020. Financial terms of the current investment were not disclosed. The transaction remains subject to regulatory approval.
Founded in 2018, CoinDCX reports over 20.4 million users and $165 billion in annualized transaction volumes across its products as of July. The exchange maintains over $1.2 billion worth of assets under custody with an annualized revenue of $141 million.
The investment follows a $44 million exploit CoinDCX suffered in July. Hackers disguised as recruiters lured a software engineer to install malware on his company laptop. This incident occurred a year after WazirX, another prominent Indian exchange, faced a $230 million exploit.
CoinDCX operates diverse products serving India’s growing crypto market. The company has focused on compliance‑first operations while scaling its platform infrastructure.
The deal represents Coinbase’s strategic move to access emerging markets through established local partners. Both India and the Middle East show accelerating blockchain adoption rates and regulatory development.