Coinbase Ventures has made an investment in CoinDCX, which is an Indian cryptocurrency exchange, giving it a valuation of $2.45 billion. CoinDCX co-founder Sumit Gupta confirmed the deal via a post on X. Coinbase Ventures is the U.S.-based crypto company Coinbase’s investment arm.
The precise amount of the investment has not been revealed. However, the announcement has put CoinDCX among the most valuable crypto companies in the region. The investment is part of Coinbase’s strategy to expand its operations in South Asia and the Middle East.
CoinDCX Reports User and Volume Growth
CoinDCX stated it now has more than 20 million users across India and the UAE. This growth includes users gained from its late 2024 acquisition of BitOasis, a regional exchange operating in the Gulf region.
The company reported $141 million in annual revenue and $165 billion in yearly transaction volume as of July 2025. It also confirmed holding $1.2 billion in assets under custody. These figures reflect the company’s expanded role in crypto trading and services within the region.
In July, CoinDCX was targeted in a $44 million hack. The company has since said it is improving platform security. No new details about the incident have been shared.
Coinbase Targets India and Middle East Expansion
Coinbase stated that India and the Middle East are now part of its long-term strategy. India alone has an estimated 115 million crypto users, based on data from August 2025. Together, the two regions represent a large market for digital assets.
“India and the Middle East are set to play a big role in the future of crypto,” Coinbase said in a public post.
The company did not respond to questions regarding the deal’s details.
Earlier this year, Paul Grewal, Coinbase’s Chief Legal Officer, met with the IT Minister of Karnataka, a major Indian tech center. After the meeting, Grewal said Coinbase would explore ways to support local tech growth. No formal plans were announced.
Regulatory Climate in India Remains Uncertain
India continues to take a cautious approach to crypto. Commerce Minister Piyush Goyal recently stated that cryptocurrencies like Bitcoin have “no back-end guaranteeing any value.” The government has shown interest in blockchain, but not in private digital assets.
The Reserve Bank of India is moving ahead with central bank digital currency pilots. These are seen as part of a broader digital strategy that excludes decentralized crypto tokens.
Despite this, Indian crypto firms are expanding, especially in overseas markets. CoinDCX’s activity in the UAE and Coinbase’s support signal a growing focus on regions with more open regulatory environments.
Coinbase Ventures Continues Global Investment Push
This deal adds to a series of recent investments made by Coinbase. The company joined an $8.1 million funding round for Crown, a fintech firm developing a stablecoin linked to the Brazilian real.
Coinbase Ventures also invested in Stablecore, which builds stablecoin infrastructure for credit unions and regional banks in the U.S. It contributed to a $20 million seed round for the firm. In September, Coinbase led a $47 million round for RedotPay, a payments company focused on stablecoin use cases. It also supported Bastion, a white-label stablecoin platform, with $14.6 million.
These deals show Coinbase is backing projects focused on stablecoin use, local currency support, and financial infrastructure.
