Coinbase has agreed to invest in CoinDCX, one of India’s largest crypto exchanges, in a transaction that remains subject to regulatory approvals and other customary closing conditions, according to statements released Wednesday by Shan Aggarwal, Coinbase’s chief business officer, and Sumit Gupta, co-founder and CEO of CoinDCX.
Aggarwal framed the move as a long-term bet on India and the Middle East’s role in the blockchain economy, citing population scale, growing adoption of technology and a large crypto user base. He said this commitment builds on previous support through Coinbase Ventures and aligns with Coinbase’s expanding local operations and partnerships.
Aggarwal also highlighted the reported scale of operations as of July 2025: annualized group revenue of 11.79 billion rupees ($141 million), annualized transaction volumes of 13.7 trillion. rupees ($165 billion), assets under custody in excess of 100 billion rupees ($1.2 billion), and a user base in excess of 20 million.
Gupta called the investment an expansion of CoinDCX’s previous fundraising and said he values the company at $2.45 billion after payment, reiterating that closing remains contingent on approvals. He credited Coinbase’s support since 2020 and described the milestone as a vote of confidence in the team’s mission to build a reliable and compliant platform in India, the UAE and beyond.
Gupta highlighted expansion through the BitOasis acquisition and growth of the Okto Web3 product suite, saying new capital will accelerate product launches, market entries and security initiatives.
As a reminder, in April 2022, CoinDCX raised $135 million for a valuation of $2.15 billion; Bloomberg reports that Pantera Capital and Steadview Capital Management led the round, while Reuters notes that Coinbase Ventures participated.
