Coinbase boosts investment in India’s CoinDCX, valuing exchange at $2.45B
Coinbase has increased its investment in India’s CoinDCX, valuing the exchange at $2.45 billion post-money, as the U.S. crypto giant bets on the country’s digital-asset potential even as regulation remains unclear. The investment is an extension of CoinDCX’s previous funding round and is subject to regulatory approvals and customary closing conditions, the companies said on Wednesday. They did not disclose the amount invested or the size of Coinbase’s stake, but noted that the new round increased the Indian exchange’s valuation from $2.15 billion in its last raise in April 2022. CoinDCX confirmed to TechCrunch that the latest funding is an investment of new capital by Coinbase. The U.S. exchange has been an investor in CoinDCX since 2020 and last backed the Indian…
