US-based Coinbase invests in India's crypto exchange CoinDCX at $2.45 billion valuation

US-based crypto giant Coinbase has made a fresh investment in Indian crypto exchange CoinDCX, valuing the company at a post-money valuation of $2.45 billion.

Advertisment

The funding amount was not disclosed but is described as an extension of a previous round, reinforcing Coinbase’s long-term association with CoinDCX, which began in 2020.

Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, Mumbai-based CoinDCX serves more than 20 million users across India and the UAE, offering access to over 500 crypto assets and 200 trading pairs. The platform also caters to institutional investors and operates multiple verticals under DCX Group, including CoinDCX Ventures and Okto, a Web3 wallet platform with over 20 million users.

The company said the fresh capital will be used to strengthen product development, introduce new on-chain use cases, and expand its presence globally, particularly in the Middle East and North Africa, where CoinDCX entered last year through the acquisition of Dubai-based BitOasis.

As of July 2025, CoinDCX’s annualised group revenue stood at Rs 1,179 crore, while annualised transaction volumes were at Rs 13.7 lakh crore and assets under custody exceeded Rs 10,000 crore. The company reported a 15% rise in net profit to Rs 1.7 crore in FY25, with operating revenue growing 43% to Rs 559.6 crore.

Thank you for your constant faith in @CoinDCX and the Indian crypto ecosystem, @brian_armstrong! 🫡

I still remember our meeting almost four years ago when we asked you, “What has brought @coinbase to where it is today? Is there anything different in what you have done?”

You… https://t.co/JiwBJ4nPRWpic.twitter.com/6wxkVLCWoX

— Sumit Gupta (CoinDCX) (@smtgpt) October 15, 2025

CoinDCX has raised over $244 million to date from investors including Pantera Capital, B Capital Ventures, and Bain Capital. It became India’s first cryptocurrency unicorn in 2021 after raising $90 million in its Series C round at a valuation of $1.1 billion.

“After signing an agreement with @coinbase for a fresh funding for @CoinDCX, the team’s focus is now on how to make crypto more mainstream in India and the Middle East, and how to make blockchain technology central to the financial system of the future,” Khandelwal wrote in a post on X.

After signing an agreement with @coinbase for a fresh funding for @CoinDCX, teams focus is now on how to make Crypto more and more mainstream in India and Middle East and how to make Blockchain tech central to the financial system of the future.

The decoration is for Deepawali… pic.twitter.com/pQIjpZkdD3

— Neeraj Khandelwal (@neerajKh_) October 15, 2025

The fresh funding follows a challenging year for the exchange, which faced a $44 million (Rs 378 crore) hack earlier in 2025, one of the largest crypto thefts in India since WazirX’s $234 million breach.

Coinbase, which resumed operations in India earlier this month after a three-year suspension, said the CoinDCX investment aligns with its broader regional strategy and deepening presence in India’s digital assets ecosystem.

“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.