Coinbase makes investment in Indian crypto exchange CoinDCX

Coinbase (COIN) is making an investment in CoinDCX, a crypto exchange in India and the Middle East, building on its prior investments in CoinDCX via Coinbase Ventures. “This investment underscores the potential we see in these regions. With over 1.4 billion people, growing tech adoption, and over 100 million crypto owners, India and the Middle East are set to play a big role in the future of crypto – and CoinDCX is a high-growth, financially sound business built for scale at the center of the region’s massive growth opportunity. A retail-focused platform, CoinDCX has grown into a market leader by building trust with users and regulators, and by expanding its footprint across the Middle East. Their journey – including overcoming challenges earlier this year – has only strengthened our conviction in their team and platform. This investment adds to our growing presence in the region, where we also maintain local operations and other important local partners. Taken together, these steps reflect a clear commitment: we believe India and its neighbors will help shape the future of the global onchain economy. This transaction is subject to regulatory approvals and other customary closing conditions. We’re excited to work alongside CoinDCX and other partners in the region to make crypto more accessible, more useful, and more trusted for millions of people. And we’ll continue looking for opportunities to collaborate with builders across India as we expand our international footprint.”