U.S. crypto exchange Coinbase says it is deepening its presence in emerging markets with a fresh investment in CoinDCX, citing India and the Middle East as key drivers of future global crypto adoption.
The deal values the Indian exchange at $2.45 billion post-money and marks Coinbase's latest move to expand its international footprint, according to Coinbase’s Wednesday statement.
“The transaction is subject to regulatory approvals and other customary closing conditions,” the statement noted.
"This isn't just about capital, it is about conviction in our long-term vision, our regulatory-first approach, and India and UAE's growing role in the global crypto movement,” CoinDCX CEO Sumit Gupta tweeted on Wednesday.
As of July 2025, CoinDCX reported annualized group revenue of ₹1,179 crore (approximately $141 million), annualized transaction volumes of ₹13.7 lakh crore (around $165 billion), and assets under custody exceeding ₹10,000 crore ($1.2 billion).
"There's rapid tech adoption in India and the Middle East, and already 100M+ crypto holders," Coinbase CEO Brian Armstrong tweeted. "Excited to do more in these markets and help to keep accelerating adoption. Coinbase is going global."
Coinbase declined to comment on the investment amount when contacted by Decrypt. CoinDCX has yet to respond.
Sudhakar Lakshmanaraja, founder of blockchain education platform Digital South Trust, called it a "welcome move," telling Decrypt that foreign exchanges now find it easier to invest directly rather than operate under India's Financial Intelligence Unit regulations, and could open the door for more local-foreign exchange collaborations.
The deal comes months after CoinDCX weathered major challenges, including a $44.2 million hack in July that the exchange absorbed from its treasury reserves.
At the time, Gupta had dismissed rumors that Coinbase was in talks to acquire the exchange, insisting CoinDCX was "not up for sale."
"Rather than fighting regulatory headwinds again, Coinbase is opting for the 'partner to penetrate' model—a playbook we've seen work well in complex regulatory markets across Asia," Monica Jasuja, chief expansion and innovation officer at Emerging Payments Association Asia, told Decrypt.
CoinDCX’s Middle East push is the “real story,” she said, linking “two of the fastest-growing crypto markets” — India’s deep tech and user base with the Gulf’s capital and flexible regulation.
The goal, Jasuja added, isn’t to crown one hub but to build a “regional corridor” connecting both.
"This investment could accelerate the timeline for clearer frameworks, especially around foreign ownership thresholds, compliance requirements, and interoperability with global crypto rails," Jasuja said, while cautioning that "pressure doesn't always translate to speed in policymaking."
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