Coinbase Backs CoinDCX Again Amid India’s Crypto Uncertainty
Coinbase has increased its investment in India’s CoinDCX, valuing the homegrown crypto exchange at $2.45 billion post-money. The move signals renewed optimism from global players toward India’s growing digital asset ecosystem — even as local regulations remain unclear.
The fresh funding extends CoinDCX’s previous round from 2022 and includes new capital from Coinbase. Both companies said the deal is subject to regulatory approvals and closing conditions, but didn’t disclose the amount invested.
Coinbase Strengthens Its Bet on India’s Crypto Future
Coinbase first invested in CoinDCX back in 2020 and later participated in its Series D round in 2022 through its venture arm, Coinbase Ventures. The latest investment shows the U.S. exchange’s intent to deepen its footprint in India’s crypto market.
“This investment adds to our growing presence in the region,” said Shan Aggarwal, Coinbase’s chief business officer. “We believe India and its neighbors will help shape the future of the global onchain economy.”
Coinbase recently re-registered with India’s Financial Intelligence Unit (FIU), signaling its comeback after halting local operations last year. The firm is also an investor in CoinSwitch, another major Indian crypto startup.
CoinDCX Expands Despite Challenges
CoinDCX has continued to scale its operations despite challenges, including a $44 million security breach in July. The platform now boasts over 20.4 million users, ₹100 billion ($1.12 billion) in customer assets, and annualized transaction volumes of ₹13.7 trillion ($154.6 billion).
The company also expanded beyond India by acquiring BitOasis, a crypto exchange serving the Middle East and North Africa (MENA) region. The move positioned CoinDCX to tap into one of the fastest-growing crypto markets worldwide.
CEO Sumit Gupta said the new funding will help CoinDCX “enhance products, drive user growth, and deepen educational initiatives” across regions. He emphasized the firm’s focus on building a compliant and regulatory-friendly crypto ecosystem in India, MENA, and beyond.
Regulatory Cloud Yet to Clear
India’s crypto regulations continue to evolve slowly. The country’s 30% tax on digital asset gains and 1% tax deducted at source (TDS) on each trade have significantly affected trading volumes.
Additionally, New Delhi has restricted offshore crypto platforms that fail to register with the FIU. Earlier this year, 25 global exchanges, including BingX and LBank, came under scrutiny for non-compliance with India’s anti–money laundering laws.
Despite these hurdles, Coinbase’s renewed commitment shows global investors still view India as a high-potential crypto market. With over a billion internet users and increasing financial digitization, India remains a key growth hub for blockchain-based innovation.
India’s Crypto Scene Still Attracts Global Capital
Coinbase’s decision to double down on CoinDCX reflects a larger trend — crypto startups in India are continuing to attract international investment even amid regulatory ambiguity.
While policymakers deliberate on a clear crypto framework, global firms are quietly positioning themselves for the long term. As the market matures and compliance frameworks tighten, investors like Coinbase see India as a crucial player in the global digital asset economy.
