Coinbase is a leading platform for the global onchain economy, helping millions of users in more than 100 countries access, trade and manage digital assets
Coinbase has agreed to invest in CoinDCX. This investment round is a follow-up to the last fundraising round. Once completed, CoinDCX’s post-money valuation will be $2.45 billion.
Hashed Emergent’s India Web3 Landscape Report 2024 highlights that Indian Web3 startups raised $564 million in 2024, up 109 percent from the previous year, bringing total funding in the sector since 2020 to more than $3 billion. India also added 4.7 million new Web3 developers last year, making it the largest contributor to the global developer ecosystem.
According to Aditya Arora, the CEO of Faad Capital, in India, the most investable crypto business models include centralized exchanges (CEXs) such as CoinDCX and decentralized finance platforms (DeFi) that offer lending, staking and yield generation services. Moreover, platforms that facilitate tokenized assets, such as the RBI pilot for tokenization of certificates of deposit, offer promising opportunities. Cryptocurrency-based investment products, including automated trading platforms such as Mudrex, and blockchain infrastructure services, are also gaining popularity.
Funding interests in the Indian crypto sector remain robust; Despite regulatory uncertainties, the sector’s growth potential, powered by over 107 million crypto users and expected market revenue of $6.4 billion by year-end, continues to attract both domestic and international investors. However, the changing regulatory landscape requires a cautious approach, with investors looking for startups that demonstrate strong compliance frameworks and adaptability to policy changes.
Sharper increase
“Once there is greater regulatory clarity, we will see a sharper increase in financing activity as both domestic and global investors gain the confidence to back innovative Indian projects at scale,” said Edul Patel, CEO of Mudrex, a leading Indian crypto platform.
When evaluating crypto or Web3 startups in India, regulatory risk is a crucial factor. Patel added that you also need to assess how well a startup can adapt to potential regulatory changes and whether its business model can withstand policy changes. For example, during the RBI’s previous crypto ban, many players were forced to quit. Still, some startups continued to innovate while strictly adhering to the guidelines.
“In India, the crypto ecosystem has huge potential, and regulation is really the only missing piece for its full growth. Indians account for more than 12 percent of the global Web3 community, and the country is home to more than 1,200 Web3 startups. With the government showing interest in this ecosystem through initiatives like the CBDC and DigiYatra, regulations will soon be in place that can stimulate innovation and user interest in Web3. ecosystem,” he noted.
Cautious approach
Arora reiterated this, adding that the lack of clear regulatory frameworks in India has led to a cautious approach among investors and entrepreneurs in the crypto sector. While the country leads the world in crypto adoption metrics, including retail, centralized services, DeFi and institutional activity, the lack of structured regulation could result in an outflow of talent and capital as stakeholders seek more predictable environments.
CoinDCX has over 20 million Indian investors. The exchange offers a range of products tailored to private participants, high net worth individuals (HNIs) and family offices.
The company expanded into the Middle East and North Africa (MENA) region through the acquisition of BitOasis in 2024. The new capital will be used to drive product innovation, drive user growth, expand into new geographies and deepen educational initiatives.
“Coinbase has been an investor in CoinDCX since 2020. The decision to inject more capital is a strong validation of CoinDCX’s long-term vision and responsible growth strategy. Coinbase is recognized globally for building compliant-first crypto businesses. We see strong synergies with Coinbase in building a compliant and regulatory crypto ecosystem in India, MENA and beyond,” said Sumit Gupta, Co-founder, CoinDCX.
CoinDCX is backed by the world’s largest investors, including Polychain, Bain Capital, Jump Capital, Pantera, Steadview, Kingsway, Draper Dragon, R Capital, Kindred, Block.One, and Cadenza, among others. The company currently offers over 500 crypto assets and over 200 crypto pairs. The completion of this financing is subject to regulatory approval and other customary closing conditions.
Published on October 15, 2025
#CoinDCX #Secures #Funding #Coinbase #Billion #Indian #Crypto #Market #Boom