US crypto giant Coinbase has increased its investment in Indian exchange CoinDCX, taking the company’s valuation to $2.45 billion. Coinbase has been backing CoinDCX since 2020 through its venture arm and had also invested in rival CoinSwitch in 2021.
This fresh funding gives CoinDCX the resources to push its expansion in India and the Middle East, while allowing Coinbase to strengthen its presence in both markets.
CoinDCX has been eyeing international markets for some time. In 2024, it acquired BitOasis, one of the largest crypto platforms in the Middle East, which has now started operations in Bahrain. The exchange plans to generate 30% of its revenue from the Middle East by 2026, signaling a strategic shift to reduce dependence on India’s uncertain crypto regulations.
For Coinbase, this is a strong vote of confidence in the Indian crypto ecosystem, especially as it prepares to relaunch its own exchange in India later this year. For CoinDCX, the funding gives it a stronger footing against rivals like WazirX and CoinSwitch, while enabling it to build a truly global footprint.
