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Promote with Leviathan NewsCoinbase has agreed to make a new strategic investment in Indian crypto exchange CoinDCX, valuing the company at about $2.45 billion post‑money, in a deal described as part of Coinbase’s push to deepen its presence across India and the Middle East. This builds on prior backing from Coinbase Ventures, which has participated in multiple CoinDCX funding rounds since 2020, and positions CoinDCX as one of the region’s most highly valued crypto trading platforms. The transaction is still subject to regulatory approvals and standard closing conditions. Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, Mumbai‑based CoinDCX has grown into a large retail‑focused exchange, reporting more than 20 million users across India and the UAE, access to over 500 crypto assets and 200 trading pairs, and an annualized transaction volume of about $165 billion as of July. The company says it holds more than $1.2 billion in customer assets under custody and generates roughly $141 million in annualized revenue, while also serving institutions and operating additional business lines under the DCX Group, including CoinDCX Ventures and the self‑custody platform Okto. The new Coinbase investment comes months after a reported $44 million hack in July that tested CoinDCX’s security posture, and it signals continued investor confidence in both the exchange and the broader potential of India and the Middle East as fast‑growing crypto markets where global firms increasingly seek local partners.
AI-generated background, compiled from web sources — not editorial content.
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businesstoday.in ·
Financefeeds ·
decrypt.co ·
The Block ·
𝕏/@CryptooIndia ·
𝕏/@smtgpt ·
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