Coinbase just decided to throw more money at CoinDCX, the biggest crypto exchange in India, which will push the company’s value to $2.45 billion once everything gets approved. The deal still needs the green light from regulators, but it shows Coinbase really believes in India’s crypto future.
This isn’t Coinbase’s first rodeo with CoinDCX; they originally invested back in 2020. Coming back with more cash basically means they’re happy with how things have been going and want to bet bigger on the Indian market.
CoinDCX has been crushing it lately, bringing in $141 million in revenue every year. They’ve also been expanding outside India after buying BitOasis in 2024, which gave them access to the Middle East and North Africa markets.
The fresh capital is going toward typical startup stuff: building better products, getting more users signed up, expanding into new countries, and teaching people about crypto who don’t understand it yet.
Sumit Gupta, who co-founded CoinDCX, said having Coinbase invest more money proves their long-term plan is actually working. Meanwhile, Coinbase’s business chief, Shan Aggarwal, said India and the Middle East are two of the fastest-growing regions for crypto adoption anywhere on earth.
CoinDCX isn’t hurting for investors either. Besides Coinbase, they’ve got backing from heavy hitters like Bain Capital and Pantera. They employ over 400 people and were the first exchange to register with India’s financial watchdog.
Conclusion
Coinbase made an additional investment in India’s CoinDCX, raising its valuation to $2.45 billion, continuing the 2020 partnership to support Middle East expansion and user growth initiatives.
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