Coinbase is making an investment in CoinDCX, a crypto exchange active in India and the Middle East. Coinbase is building on its prior investments in CoinDCX via Coinbase Ventures.
This investment underscores the potential Coinbase sees 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.
This investment adds to Coinbase’s growing presence in the region, where it also maintains local operations and other important local partners.
This transaction is subject to regulatory approvals and other customary closing conditions.
Coinbase commented:
“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”.
