US-based crypto exchange giant Coinbase has made a fresh investment in Mumbai-based CoinDCX, valuing the Indian crypto platform at a post-money valuation of $2.45 billion.
The funding amount has not been disclosed but is said to be an extension of a previous round. Coinbase first backed CoinDCX in 2020, and this fresh move further reinforces its long-term commitment to India’s crypto ecosystem.
CoinDCX Growth Story
Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX today serves over 20 million users across India and the UAE. The platform allows trading in 500+ crypto assets and 200 trading pairs, while also catering to institutional investors.
CoinDCX operates under its parent DCX Group, which also runs CoinDCX Ventures and Okto, a Web3 wallet platform with more than 20 million users worldwide. This diversified presence has helped the company become one of the most trusted names in the Indian crypto space.
Expansion Beyond India
With the fresh funds, CoinDCX plans to strengthen product development, introduce new on-chain use cases, and expand globally. Its immediate focus is the Middle East and North Africa (MENA), where it entered last year through the acquisition of Dubai-based BitOasis.
The company believes these regions, along with India, will become the fastest-growing hubs for crypto adoption and innovation in the coming decade.
Strong Financial Performance
As of July 2025, CoinDCX recorded an annualised group revenue of Rs 1,179 crore, annualised transaction volumes of Rs 13.7 lakh crore, and assets under custody of over Rs 10,000 crore.
In FY25, the company posted a 15% rise in net profit to Rs 1.7 crore, while operating revenue grew 43% to Rs 559.6 crore. This highlights both its resilience and growth momentum, despite challenges in the crypto market.
Investor Backing Since 2021
So far, CoinDCX has raised over $244 million from investors such as Pantera Capital, B Capital Ventures, and Bain Capital. The company also became India’s first crypto unicorn in 2021 after raising $90 million in its Series C round at a valuation of $1.1 billion.
The latest investment by Coinbase comes as a confidence boost for CoinDCX, especially after facing a $44 million (Rs 378 crore) hack earlier this year, one of the largest cyber thefts in India’s crypto history.
Coinbase Strategy
Coinbase itself has just resumed operations in India this month after a three-year suspension. The company views its CoinDCX investment as part of a broader regional strategy to deepen its presence in India and neighbouring markets.
“India and the Middle East are among the most dynamic regions for crypto adoption and innovation. We are excited to support CoinDCX’s growth and expand our partnership in the months ahead,” said Shan Aggarwal, Chief Business Officer, Coinbase.
Crypto Market
The crypto market in India has seen both challenges and opportunities in recent years, from regulatory uncertainty to rising consumer adoption. CoinDCX has positioned itself as a secure and compliant exchange to gain user trust at a time when global crypto platforms face scrutiny.
Industry experts believe that the entry of major players like Coinbase into India, alongside local leaders like CoinDCX, will accelerate blockchain adoption, create new financial use cases, and integrate digital assets more deeply into the global economy.
