October 17, 2025
By Our Correspondent
On Wednesday, the US-based cryptocurrency exchange declared that it will be investing an unknown sum in the Indian cryptocurrency exchange CoinDCX.
According to an announcement from CoinDCX, the most recent investment round is an extension of the previous fundraise and values the local exchange at USD 2.45 billion post-money.
Coinbase participated in CoinDCX’s USD 135 million round in April 2022, which valued the company at more than USD 2 billion.
“This investment underscores the potential we see in these regions. With over 1.4 billion people, growing tech adoption, and over 100 million crypto owners, 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,” said Coinbase in a blog post.
According to Reuters’ estimate, India’s crypto market is expected to cross USD 15 billion by 2035.
“This investment adds to our growing presence in the region, where we also maintain local operations and other important local partners. Taken together, these steps reflect a clear commitment: we believe India and its neighbors will help shape the future of the global onchain economy. This transaction is subject to regulatory approvals and other customary closing conditions,” Coinbase added.
The fundraising pace for crypto startups in India, particularly the late-stage ones, has significantly decreased as a result of regulatory uncertainty, including hefty taxes on crypto transactions, and general corrections in the crypto market. This could change with the new agreement between CoinDCX and Coinbase.
CoinDCX co-founder Sumit Gupta told the media that Coinbase’s move to increase their investment is a clear indication of their faith in the company’s ability to execute and in India’s potential in the digital asset market.
“Coinbase shares our belief that India will play a pivotal role in shaping the global onchain economy. Their continued support brings global expertise, best practices in compliance, and a shared commitment to building responsibly. Together, we aim to accelerate India’s transition from being a high-adoption market to becoming a global innovation hub…”, he said.
Gupta also revealed that, in spite of market instability, the company’s customer base has been constantly increasing. Currently, CoinDCX has over 2 crore registered users. Additionally, he pointed out that customers’ average age used to be 25, but it is now closer to 30.
That indicates that investors are changing, progressing from inquisitiveness to conviction. The future of India’s digital economy is greatly encouraged by the increased engagement from women and tier 2 and tier 3 cities, he continued.
Currently, the company’s primary exchange activity generates the majority of its revenue. Additionally, it includes a few related sectors, such as Web3 goods, foreign business, and strategic investments.
“Over time, we expect these newer verticals to grow faster as adoption deepens and more onchain use cases emerge,” he said.
The DCX Group, which includes CoinDCX (India), BitOasis (UAE and Bahrain), and Okto, now has an annualized group income of INR 1,179 crore, while the annualized transaction volume across all of its products is INR 13.7 lakh crore. The total value of the group’s assets under custody exceeds INR 10,000 crore.
