Coinbase invests in Indian crypto exchange CoinDCX at $2.45B valuation
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Coinbase Ventures invested in Indian exchange CoinDCX at a $2.45 billion valuation as the US crypto company expands into India and the Middle East.
Coinbase Ventures, the investment arm of US-based crypto exchange Coinbase, has invested an undisclosed amount in Indian cryptocurrency platform CoinDCX.
According to a Wednesday Coinbase announcement, the placement was made through the exchange’s investment arm, Coinbase Ventures. CoinDCX co-founder and CEO Sumit Gupta wrote in an X post that the investment took place at a post-money valuation of $2.45 billion.
In a separate announcement, CoinDCX claimed to serve more than 20 million customers in India and the United Arab Emirates, following its late 2024 acquisition of local crypto exchange BitOasis.
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