Coinbase has agreed to invest in CoinDCX, one of India’s largest crypto exchanges, in a transaction that remains subject to regulatory approvals and other customary closing conditions, according to statements released Wednesday by Coinbase Chief Business Officer Shan Aggarwal and CoinDCX Co-Founder and CEO Sumit Gupta.
Aggarwal framed the move as a long-term bet on India and the Middle East’s role in the on-chain economy, citing demographic scale, growing technology adoption and a large cryptocurrency user base. He said the commitment builds on previous support through Coinbase Ventures and aligns with Coinbase’s growing local operations and partnerships.
Aggarwal also highlighted the reported operational scale as of July 2025: annualized group revenue of 11.79 billion rupees ($141 million), annualized transaction volumes of 13.7 trillion rupees ($165 billion), assets under custody exceeding 100 billion rupees ($1.2 billion), and a user base exceeding 20 million.
Gupta called the investment an extension of CoinDCX’s previous fundraising and said he values ​​the company at $2.45 billion post-money, reiterating that closing remains dependent on approvals. He credited Coinbase’s support since 2020 and described the step as a vote of confidence in the team’s mission to build a trusted and compliant platform in India, the UAE and beyond.
Gupta pointed to expansion through the acquisition of BitOasis and the growth of the Okto Web3 product suite, and said the fresh capital will accelerate product launches, market entry and security initiatives.
For context, in April 2022, CoinDCX raised $135 million at a valuation of $2.15 billion; Bloomberg reports that Pantera Capital and Steadview Capital Management led the round, while Reuters notes that Coinbase Ventures participated.
