Coinbase has increased its investments in India’s Coindcx and appreciated the exchange for $ 2.45 billion after the money as the US crypto giant game on the country’s digital-ass-potential even when regulation remains unclear.
The investment is an extension of Coindcx’s previous financing round and is subject to regulatory approvals and usual closure conditions, companies said Wednesday. They did not reveal the invested amount or size of Coinbase’s share, but noticed that the new round increased the Indian exchange valuation from $ 2.15 billion in its last increase in April 2022.
Coindcx confirmed to TechCrunch that the latest funding is an investment of new capital of coinbase. The US exchange has been an investor in Coindcx since 2020 and last supported the Indian exchange in its series D -Round in 2022 through its venture capital arm, Coinbase Ventures.
Remarkably, the financing comes only months after Coindcx suffered a security breach in July, which led to theft of about $ 44 million worth of assets. It comes in the middle of reports earlier this year, suggesting that Coinbase acquired Coindcx – claims the Indian exchange CEO refused at the time.
“This investment adds our growing presence to the region, where we also maintain local operations and other important local partners,” Coinbase’s Chief Business Officer Shan Aggarwal said in a blog post. “Overall, these steps reflect a clear commitment: We believe that India and its neighbors will help shape the future of the global onchain economy.”
More than a year after cessation of operations in India, Coinbase again went to the market earlier this year by registering with the country’s financial intelligence unit. The American exchange is also an investor in Coinswitch, another leading Indian crypto platform.
India, the world’s most populous country and home to more than a billion internet subscribers, is an important market for US tech giants. However, the South Asian nation is still a relatively small market for crypto, partly because of regulatory uncertainty and the government’s flat 30% tax on digital asset gains along with a 1% tax on each transaction. New Delhi also limits offshore crypto exchanges unless they register with their financial watchdog. Recently, 25 global platforms – including Bingx, LBANK and COINW – came under government survey not to register and comply with the rules on laundering of money laundering.
TechCrunch -event
San Francisco
|
27-29. October 2025
Coinbases’ relocation to double Coindcx to expand its presence in India makes strategic sense, as the Indian exchange has a strong local footprint with more than 20.4 million users. In July, Coindcx reported customer assets of over $ 100 billion (about $ 1.12 billion), the annual group revenue of $ 11.79 billion.
In addition to India, Coindcx expanded to the Middle East and North Africa (Mena) last year by acquiring Bitoasis. Coinbase could utilize this footprint to strengthen its presence in the region, one of the fastest growing crypto markets globally.
The new capital will be used to improve products, operate user growth, expand to new geographies and elaborate on educational initiatives, Coindcx said in a statement.
“We see strong synergies with coinbase in the construction of a compatible and regulatory-friendly crypto ecosystem in India, Mena and beyond,” said Sumit Gupta, co-founder and CEO of Coindcx.