Coinbase announces investment in CoinDCX, expanding its presence in India and the Middle East, regions with over 100M crypto owners. The company announced a strategic investment in India’s leading cryptocurrency exchange CoinCX, valuing the Mumbai-based platform at $2.45 billion post money, pending regulatory approvals.
Investing in India’s largest exchange systematically positions Coinbase in two fastest-growing crypto markets. The move builds on Coinbase’s prior investments since 2020 and aims to strengthen its presence in India and the Middle East, regions with over 100 million crypto users. India’s crypto users is set to surpass its current 100 million users.
CoinDCX plans to allocate the funds toward product innovation, compliance enhancements, and expansion into the Middle East amid India’s robust crypto adoption despite regulatory hurdles.
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London Glossy Autumn 2024- Digital
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