Coinbase has agreed to invest in Indian crypto exchange CoinDCX, valuing the company at $2.45 billion post-money.
Coinbase said in a statement that the deal underscores its commitment to “responsible innovation” in emerging crypto economies.
“This investment adds to our growing presence in the region, where we also maintain local operations and other important local partners. Taken together, these steps reflect a clear commitment: we believe India and its neighbors will help shape the future of the global onchain economy,” the firm said.
CoinDCX last raised $135 million in an April 2022 funding round led by Pantera Capital and Steadview, with participation from Coinbase Ventures and B Capital Group. That round valued the Mumbai-based exchange at $2.15 billion, marking it as India’s first crypto unicorn.
Founded in 2018, CoinDCX has built a user base exceeding 14 million, offering trading, staking, and education tools aimed at onboarding Indian retail users. Coinbase’s fresh investment reinforces its regional expansion following licenses in Singapore and Dubai.
When completed, the deal aims to deepen Coinbase’s exposure to Asia’s largest retail crypto market while signaling long-term confidence in regulated local exchanges.
Two investments this month signal Coinbase’s particular focus on two key areas in crypto today: prediction markets and stablecoins.
Coinbase joined a $300 million Series D round into prediction market Kalshi, which secured a $5 billion valuation. It also participated in a $25 million Series A for Coinflow, supporting the company’s expansion in stablecoin payments infrastructure, according to Fortune.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Michael McSweeney before publication.
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