U.S. crypto exchange Coinbase has announced a new investment in India-based CoinDCX, valuing the company at $2.45 billion post-money, as part of a strategic push to expand in South Asia and the Middle East. The deal, subject to regulatory approvals, builds on prior investments through Coinbase Ventures and follows CoinDCX's recovery from a $44.2 million hack in July 2025, which the exchange absorbed from its treasury reserves without user fund losses.
CoinDCX reports 20.4 million registered users, annualized transaction volumes of $165 billion, revenue of approximately $141 million, and assets under custody exceeding $1.2 billion as of July 2025. Coinbase CEO Brian Armstrong highlighted the regions' potential, noting "rapid tech adoption in India and the Middle East, and already 100M+ crypto holders," while CoinDCX CEO Sumit Gupta emphasized the partnership's role in advancing "India and UAE's growing role in the global crypto movement."
Industry experts, including Monica Jasuja of the Emerging Payments Association Asia, view this as a "partner to penetrate" strategy, allowing Coinbase to leverage CoinDCX's regulatory relationships rather than facing direct entry challenges. The collaboration aims to create a "regional corridor" connecting India's tech-savvy user base with the Gulf's capital and flexible regulations, potentially accelerating clearer regulatory frameworks.
