New Delhi, Oct. 15 -- CoinDCX, a homegrown cryptocurrency exchange, has raised an undisclosed amount in fresh funding from Coinbase, a US-based crypto platform.
With this infusion, CoinDCX's post-money valuation stands at $2.45 billion (Rs 21,600 crore).
The transaction is structured as an extension of its previous funding round and is subject to regulatory approvals and customary closing conditions.
The company said it will use the capital to expand its product suite, develop new on-chain use cases for India, grow its international presence, and strengthen educational and compliance initiatives.
Founded in 2018, CoinDCX claims to serve over 20 million Indian investors and offers a wide range of products, from SIPs to advanced trading tools. The company operates more than 500 crypto assets across over 200 pairs and has expanded internationally through the acquisition of Dubai-based BitOasis in 2024.
"India and the Middle East are among the most dynamic regions for crypto adoption and innovation. We're excited to support CoinDCX's continued growth and look forward to expanding our partnership," said Shan Aggarwal, chief business officer, Coinbase.
Sumit Gupta, co-founder of CoinDCX, added, "Coinbase's decision to invest further validates our long-term vision and responsible growth strategy. The synergies between our companies will help build a compliant crypto ecosystem in India, MENA, and beyond."
CoinDCX is backed by leading global investors, including Polychain, Bain Capital, Jump Capital, Pantera, Steadview Capital, Kingsway, Draper Dragon, R Capital, Kindred, Block.One, and Cadenza.
Prior to this round, CoinDCX had raised $135 million in April 2022 in a funding round led by Pantera Capital and Steadview Capital Management. The round had valued the company at $2.15 billion.
CoinDCX competes with other players in India's crypto market such as WazirX, which was in talks for an acquisition by Binance in 2019, CoinSwitch, Kuber, ZebPay, and Mudrex.
Published by HT Digital Content Services with permission from VC Circle.