Current investor Coinbase has provided further funding to cryptocurrency exchange CoinDCX, valuing the unicorn at $2.45 billion post-money.

Coinbase intends to increase its footprint in the Middle East and India as part of the financial investment.  The US-based cryptocurrency company stated, “This investment contributes to our expanding presence in the region, where we also maintain local operations and other significant local partners.”

According to Coinbase, India and its neighbors will have a significant influence on how the global onchain economy develops in the future. 

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CoinDCX cofounder Sumit Gupta stated in a blog post that the funding is an expansion of the company’s earlier fundraising effort.  In 2020, Coinbase made its initial investment in CoinDCX.

According to him, the new funding would enable CoinDCX to expand into new regions, offer new products in the larger Web3 sector, and fortify its operations in India and the United Arab Emirates.

Gupta and Neeraj Khandelwal founded CoinDCX in 2018, which enables users to exchange cryptocurrencies and other digital assets.  With over 500 registered cryptocurrency assets and quarterly trading volumes above INR 2.4 Lakh Cr, the platform boasts a user base of over 2 Cr in India and the United Arab Emirates.

In July of last year, CoinDCX made its debut in the Middle East market by purchasing BitOasis, a virtual assets trading platform situated in Dubai.

As of July 2025, Coinbase reports that CoinDCX’s annualized group revenue was INR 1,179 Cr, its annualized transaction volumes were INR 13.7 Lakh Cr, and its assets under custody totaled more over INR 10,000 Cr.

To date, CoinDCX has raised more than $244 million in capital from investors like as Pantera Capital, B Capital Ventures, and Bain Capital.  After obtaining $90 million in its Series C fundraising round with a valuation of $1.1 billion, it became the first cryptocurrency unicorn in India in 2021.

Financially speaking, the unicorn in cryptocurrency reported a 15% increase in net profit in FY25, reaching INR 1.7 Cr from INR 1.5 Cr in FY24.  Operating revenue increased from INR 391.8 Cr in FY24 to INR 559.6 Cr, a 43% increase.

The funding comes months after CoinDCX experienced one of the largest cryptocurrency thefts in India since WazirX’s $234 million attack, which cost $44 million (INR 378 crore).