CoinDCX hits $2.45B valuation as Coinbase increases stakes in Indian market

Today, Conbase announced it has increased investment in India’s cryptocurrency exchange, CoinDCX. Coinbase’s new investment values CoinDCX at $2.45 billion post-money.

The crypto giant stated that the investment is an extension of a previous funding round and is pending regulatory approvals. Coinbase’s stake remains undisclosed. The latest funding increased from CoinDCX’s valuation of $2.15 billion in April 2022.

Coinbase strengthens ties with CoinDCX expansion

Fueling the Next Phase of Growth 🚀

I am excited to share that @Coinbase has entered into an agreement to make an investment in @CoinDCX (closing subject to regulatory approvals) valuing us at $2.45B post-money.

But this isn't just about capital, it is about conviction in our… pic.twitter.com/zwodLXGTjY

— Sumit Gupta (CoinDCX) (@smtgpt) October 15, 2025

CoinDCX confirmed that Coinbase’s new capital funded the new investment. The U.S. exchange has invested in CoinDCX since 2020. Coinbase Ventures recently backed the Indian exchange in its Series D round in 2022. 

Sumit Gupta, co-founder and CEO of CoinDCX, said that he sees a strong partnership with Coinbase in building a compliant and regulatory-friendly crypto ecosystem in India, MENA, and beyond.

Shan Aggarwal, Vice President, Head of Corporate Development & Ventures at Coinbase, stated that the investment enhances Coinbase’s growing presence in India and the Middle East. Aggarwal believes that India and the Middle East will help shape the future of the global on-chain economy.

“Taken together, these steps reflect a clear commitment. This transaction is subject to regulatory approvals and other customary closing conditions.”

–Shan Aggarwal, Vice President, Head of Corporate Development & Ventures, Coinbase

Coinbase announced that it is doubling down on CoinDCX to expand its presence in India. The Indian exchange has a strong local footprint with over 20.4 million users. CoinDCX reported yearly group revenue of ₹11.79 billion (approximately $133 million). The firm also reported annualized transaction volumes across products of ₹13.7 trillion (approximately $154.6 billion). Client assets exceeded ₹100 billion (approximately $1.12 billion) as of July.

CoinDCX co-founder Sumit Gupta said that the fresh capital will accelerate the firm’s vision to launch new products across the Web3 ecosystem. The indian exchange revealed that the new capital will be used to drive user growth, expand into new geographies, and deepen educational initiatives.

Coinbase named India and the Middle East “top regions for crypto growth” due to high adoption, supportive regulation, and economic potential.

CoinDCX commits $11 million for asset recovery

Notably, the funding comes just months after CoinDCX experienced a security breach in July, resulting in the theft of approximately $44 million worth of assets. Sumit Gupta stated in a post on X that the attacker had accessed an internal account used solely for liquidity provisioning on a partner exchange.

CoinDCX confirmed that the most stolen assets were held in a Solana wallet, which had approximately 155,830 SOL (~$27.6 million), and an Ethereum wallet, which held about 4,443 ETH (~$15.7 million).

Sumit mentioned that the compromised account did not contain client money, but rather an internal operational wallet.  He emphasized that the account is “only used for liquidity provisioning on a partner exchange.”  Sumit asserted that all consumer wallets were unharmed despite the “sophisticated server attack.”

On June 22, CoinDCX offered up to 25% of the recovered cash as a reward to anyone who provided helpful information that aided in the recovery of assets lost in a security breach. The bounty could reach up to $11 million in the event of a full recovery of the stolen funds.

On October 14, Coinbase announced the completion of its acquisition of Deribit. Debribit is a cryptocurrency derivatives exchange that specializes in options and futures contracts for Bitcoin and Ethereum. The acquisition followed Deribit’s record-breaking month of revenue and volume, with July 25 volumes surpassing $185 billion and around $60 billion in open interest on the platform.

Coinbase stated that the acquisition brings it closer to offering the full spectrum of trading products, spot, futures, perpetuals, and options, all in one seamless platform. 

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