US-based crypto major Coinbase increases investment in CoinDCX at $2.45 billion post-money valuation

Crypto major CoinDCX has announced that US-based listed crypto major Coinbase has entered into an agreement to make an investment in the homegrown crypto exchange at a $2.45 billion post-money valuation. "The investment round is an extension to the last fundraise, and once completed, the company's valuation will stand at $2.45 billion post-money," the company said.

CoinDCX said the new capital infusion reinforces CoinDCX’s strong position in India’s digital asset space, and strengthens its commitment to making crypto accessible in a simple, secure, and compliant manner.

Sumit Gupta vows to drive innovation in India

"Coinbase has been an investor in CoinDCX since 2020. Its decision to infuse more capital is a strong validation of CoinDCX’s long-term vision and responsible growth strategy. Coinbase is globally recognised for building compliant-first crypto businesses. We see strong synergies with Coinbase in building a compliant and regulatory-friendly crypto ecosystem in India, MENA and beyond," said Sumit Gupta, Co-founder, CoinDCX.

Gupta, in a latest LinkedIn post, says the latest funding exhibits India and UAE's growing role in the global crypto movement. As CoinDCX enters the next phase of growth, it vows to continue innovating for India and the world, leading with compliance, transparency, and integrity, and helping people participate confidently and safely in the digital economy.

During a recent interaction with Fortune India, Gupta had said he was bullish about India but said what’s missing is regulatory clarity. "If that’s addressed, we can lead the global Web3 wave. CoinDCX’s mission is to make digital assets as mainstream as stocks. Twenty years ago, stocks weren’t mainstream either, but with education and accessibility, they became part of everyday finance. If we start building today, India can emerge as a Web3 powerhouse in the next 3-5 years. But if we delay, we risk missing the next big internet revolution," he told Fortune India.

The development marks positive news for the crypto major after a $44.2 million (around ₹378 crore) cyberattack in July.

Coinbase is a leading platform for the global onchain economy, which provides secure and trusted products and infrastructure for individuals, institutions, and developers to engage with crypto assets and build the future of finance.

CoinDCX boasts of empowering over 2 crore Indian investors with secure, reliable and diversified crypto investment solutions, reinforcing its position as a trusted gateway to the digital asset world. The Bengaluru-based crypto exchange offers a comprehensive suite of products tailored for retail participants to high-net-worth individuals (HNIs) and family offices.

The company has expanded into the Middle East and North Africa (MENA) region through the acquisition of BitOasis in 2024. The fresh capital will be used to fuel product innovation, drive user growth, expand into new geographies, and deepen educational initiatives. “India and the Middle East are among the most dynamic regions for crypto adoption and innovation. We’re excited to support CoinDCX’s continued growth and look forward to expanding our partnership in the months ahead,” said Shan Aggarwal, Chief Business Officer, Coinbase.

Notably, CoinDCX is backed by some of the leading investors, including Polychain, Bain Capital, Jump Capital, Pantera, Steadview, Kingsway, Draper Dragon, R Capital, Kindred, Block.One, and Cadenza, amongst others. The company currently offers over 500 crypto assets and 200+ crypto pairs. It has products suitable for all investors ranging from SIP to more advanced trading products.

Founded in 2018, CoinDCX claims to be India’s largest exchange, with over 2 crore users. In 2024, the company took its first step toward international expansion with the acquisition of Dubai-based BitOasis, the leading virtual assets broker-dealer in the MENA region. The Group powers the Web3 economy through CoinDCX Ventures, and Okto, its Web3 wallet.