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Coinbase is deepening its footprint across Asia and the Middle East through a new strategic investment in CoinDCX, one of India’s largest cryptocurrency exchanges. The move signals the U.S.-based exchange’s growing interest in emerging markets that are rapidly shaping the next phase of global crypto adoption.
According to Coinbase’s Chief Business Officer, Shan Aggarwal, the partnership reflects a long-term vision to strengthen Coinbase’s presence in regions poised for explosive growth. “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,” Aggarwal said in a press release.
While Coinbase did not disclose the financial details, CoinDCX CEO Sumit Gupta confirmed that the new deal places the company’s valuation at $2.45 billion post-money. The agreement remains pending regulatory clearance before completion.
This marks Coinbase’s second major involvement with CoinDCX after earlier rounds led by Coinbase Ventures beginning in 2020. With more than 20.4 million users and $165 billion in annualized transaction volume, CoinDCX has become a central player in India’s crypto landscape. The platform currently manages over $1.2 billion in user assets and generates around $141 million in annualized revenue.
The investment follows a turbulent year for Indian crypto exchanges. In July, CoinDCX endured a $44 million security breach after hackers posing as recruiters compromised an employee’s system. The incident echoed the $230 million exploit that hit rival exchange WazirX in 2023, highlighting the persistent cybersecurity challenges facing the region’s digital asset sector.
Coinbase’s renewed backing of CoinDCX underscores its continued confidence in the long-term potential of India’s crypto market despite regulatory uncertainties and past security incidents. The collaboration could also pave the way for deeper integration of Coinbase services in India and the Middle East — regions that are increasingly shaping the global crypto narrative.