Coinbase Doubles Down On CoinDCX, Makes Fresh Investment At $2.45 Bn Valuation

SUMMARY

The capital infusion is part of Coinbase’s plans to scale its presence in India and the Middle East

Coinbase said it believes that India and its neighbours will help shape the future of the global onchain economy

In a blog post, CoinDCX cofounder Sumit Gupta said that the funding is an extension of its previous fundraise after its first investment in 2020

Crypto exchange CoinDCX has secured fresh funding from existing investor Coinbase, valuing the crypto unicorn at a post-money valuation of $2.45 Bn.

The capital infusion is part of Coinbase’s plans to scale its presence in India and the Middle East. “This investment adds to our growing presence in the region, where we also maintain local operations and other important local partners,” the US-based crypto major said.

Coinbase said it believes that India and its neighbours will help shape the future of the global onchain economy.

In a blog post, CoinDCX cofounder Sumit Gupta said that the funding is an extension of its previous fundraise. Coinbase first invested in CoinDCX in 2020.

He said the fresh capital will help CoinDCX strengthen its business across India and the UAE, enter new markets, and launch new products in the broader Web3 space.

Founded in 2018 by Gupta and Neeraj Khandelwal, CoinDCX allows users to trade in cryptocurrencies and other digital assets. The platform claims to have a user base of over 2 Cr in India and the UAE, with more than 500 registered crypto assets with quarterly trading volumes of over INR 2.4 Lakh Cr.

CoinDCX entered the Middle East market with the acquisition of Dubai-based virtual assets trading platform BitOasis in July last year.

According to Coinbase, CoinDCX’s annualised group revenue stood at INR 1,179 Cr, annualised transaction volumes were at INR 13.7 Lakh Cr, and assets under custody stood at over INR 10,000 Cr, as of July 2025.

CoinDCX has raised a total funding of over $244 Mn to date from the likes of Pantera Capital, B Capital Ventures, Bain Capital, among others. It became India’s first crypto currency unicorn in 2021 after raising $90 M in its Series C funding round at a valuation of $1.1 Bn.

On the financial front, the crypto unicorn posted a 15% rise in its net profit at INR 1.7 Cr in FY25 from INR 1.5 Cr in the previous fiscal year. Operating revenue rose 43% to INR 559.6 Cr from INR 391.8 Cr in FY24.

The funding comes months after CoinDCX was hit by a $44 Mn (INR 378 Cr) hack, marking one of India’s biggest crypto thefts since WazirX’s $234 Mn breach.