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Updates with valuation details, CoinDCX comment
Investing.com-- Coinbase Global Inc (NASDAQ:COIN) said on Tuesday evening that it had made an investment in crypto exchange CoinDCX, which the latter said valued it at $2.45 billion.
Coinbase said in a blog post that India and the Middle East were set to “play a big role in the future of crypto,” and that its investment in CoinDCX, which is a major player in the regions, was aimed at capitalizing on this boom.
The U.S.-based exchange did not specify the value of its investment.
CoinDCX said in a separate statement that the Coinbase investment valued the exchange at $2.45 billion "post-money," and that the funding would be largely deployed towards expansion.
Reports earlier this year showed Coinbase in advanced talks to acquire CoinDCX, especially after the latter was battered by a $44 million hack. The deal was then expected to value CoinDCX below $1 billion.
Coinbase has invested in CoinDCX since 2020, the latter said on Wednesday.
Coinbase was approved to offer crypto trading services in India earlier in 2025. But the exchange largely lagged rivals such as Binance in tapping into India’s large crypto market, after a botched launch in early-2022.
India leads the world in crypto adoption, with data from CoinLedger showing the country had nearly 119 million crypto holders as of 2024.