- Coinbase increases stake in CoinDCX, valuation hits $2.45B.
- Funding supports product growth, geographic expansion, and education.
- Move strengthens Coinbase’s position despite India’s crypto regulatory uncertainty.
U.S. crypto giant Coinbase has expanded its stake in Indian exchange CoinDCX, pushing the platform’s valuation to $2.45 billion post-money. The move signals Coinbase’s renewed commitment to India’s digital asset market, even amid regulatory ambiguity and a 30% tax on crypto gains.
Strengthening Ties in a Key Market
Coinbase has been backing CoinDCX since 2020 and previously invested in its Series D round in 2022. While the companies have not disclosed the exact investment amount or Coinbase’s stake, the latest funding is an extension of CoinDCX’s previous round, pending regulatory approvals and customary closing conditions.
“This investment adds to our growing presence in the region,” said Coinbase Chief Business Officer Shan Aggarwal. “We believe India and its neighbors will help shape the future of the global onchain economy.”
Coinbase re-entered the Indian market earlier this year after more than a year of absence by registering with India’s Financial Intelligence Unit. The company is also an investor in CoinSwitch, another major Indian crypto platform.
CoinDCX’s Local Footprint and Growth
Despite a July security breach resulting in a $44 million asset theft, CoinDCX has maintained strong traction. The exchange serves over 20.4 million users, with customer assets exceeding ₹100 billion ($1.12 billion) and annualized transaction volumes totaling ₹13.7 trillion ($154.6 billion).
The new funding will support product enhancements, user growth, geographic expansion, and educational initiatives. CEO Sumit Gupta highlighted the strategic synergy with Coinbase in building a compliant, regulation-friendly crypto ecosystem in India, the Middle East, and North Africa (MENA).
Navigating Regulatory Challenges
India remains a complex market for crypto due to regulatory uncertainty. Offshore exchanges must register with financial authorities, and 25 global platforms recently faced scrutiny for non-compliance with anti-money laundering rules. Yet, Coinbase’s renewed investment underscores its long-term strategy to capitalize on India’s fast-growing digital asset landscape.
Also Read: Mesh Raises $130M From PayPal, Coinbase & ByBit to Expand Global Crypto Payments
By doubling down on CoinDCX, Coinbase strengthens its foothold in India and beyond. With regulatory compliance and strategic growth at the forefront, the U.S. exchange aims to play a central role in shaping the region’s crypto future.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
