Coinbase Expands Its India Strategy
Coinbase Global is doubling down on its commitment to India’s cryptocurrency landscape by investing in CoinDCX at a post-money valuation of $2.45 billion. The deal, structured as an extension of previous funding rounds, is still subject to regulatory clearance and standard closing conditions.
This latest move follows Coinbase Ventures’ earlier participation in CoinDCX’s $135 million fundraising round in April 2022, which pegged the exchange’s valuation at $2.15 billion. With the new funding, CoinDCX plans to broaden its offerings across India, foster on-chain use cases, and accelerate global expansion, especially in the Middle East and North Africa—regions where it has already entered through acquisitions.
CoinDCX’s Growth and Market Position
As of mid-2025, CoinDCX reported an annualized group revenue of around $141 million and held approximately $1.2 billion in assets under custody. These figures highlight the company’s maturity and growing dominance in India’s crypto infrastructure space, making it a natural partner for Coinbase’s regional ambitions.
The investment signals Coinbase’s intent to gain deeper traction in markets with high growth potential. India’s vast population, expanding internet access, and increasing interest in digital assets make it a pivotal market for long-term crypto adoption.
Strategic Motives and Potential Challenges
For Coinbase, this investment serves two purposes: strengthening its local alliances and positioning itself strategically amid evolving crypto regulations in India. The country’s policy framework around crypto—covering taxation, licensing, and compliance—remains uncertain, demanding careful navigation by both companies.
However, potential rewards come with notable risks. The crypto sector continues to experience high volatility, and executing a cross-regional growth strategy poses operational challenges. Still, Coinbase’s continued investment underscores its confidence in India as a key driver for global crypto expansion.
