From Rumors to Reality: Coinbase Invests in CoinDCX, Strengthening the India–UAE Crypto Corridor
When Indian crypto exchange CoinDCX suffered a $44 million hack in July 2025, speculation ran wild. Within days, reports suggested that Coinbase was in advanced talks to acquire CoinDCX for less than $1 billion — a steep discount from its $2.2 billion valuation during the last bull run.
CoinDCX’s CEO Sumit Gupta swiftly dismissed the rumors, reiterating that the company was “super focused” on building India’s crypto future and “not for sale.” Coinbase, staying true to its discreet approach, offered no confirmation — only its familiar refrain that it routinely explores opportunities to “build, buy, partner, or invest.”
Months later, that final word — invest — has become reality.
Coinbase Takes the Partnership Route
Coinbase has now announced an investment in CoinDCX, which the Indian crypto exchange said values it at a post-money valuation of $2.45 billion. The deal marks a significant turn from last year’s acquisition chatter, reframing the relationship between the two companies from rumor to structured partnership.
Coinbase Chief Business Officer Shan Aggarwal emphasized that the move builds on prior investments made through Coinbase Ventures, which had participated in CoinDCX’s $135 million fundraising round in 2022. “We believe India and its neighbors will help shape the future of the global onchain economy,” Aggarwal said, underscoring Coinbase’s growing commitment to the region.
BitOasis: The Hidden Bridge Between India and the Gulf
CoinDCX’s acquisition of BitOasis in 2024 continues to play a quiet but pivotal role in this story. BitOasis, a Dubai-based exchange licensed under the Virtual Assets Regulatory Authority (VARA), provides CoinDCX — and now indirectly Coinbase — with a strategic foothold in one of the world’s most advanced crypto jurisdictions.
BitOasis has also expanded into Bahrain, operating under a Central Bank of Bahrain Crypto-Asset Services License and offering retail, corporate, and institutional crypto trading services. This expansion, backed by CoinDCX’s 200+ strong technology team, underscores the exchange’s growing footprint across the Middle East.
While the 2025 hack and subsequent rumors had briefly cast doubt on CoinDCX’s stability, the company’s resilience, transparency, and regulatory compliance across India and the UAE appear to have restored confidence. With Coinbase’s latest investment, that cross-regional bridge — from Mumbai to Dubai — now looks like a deliberate long-term strategy rather than a coincidence.
Strengthening Regional Influence
CoinDCX’s recent financials further explain Coinbase’s conviction. As of July 2025, the exchange reported $141 million in annualized revenue, $1.2 billion in assets under custody, and a 20.4-million-strong user base. The numbers reaffirm CoinDCX’s leadership in India’s crypto landscape and its emerging presence across the Middle East.
For Coinbase, the investment extends beyond a balance-sheet move — it’s a regional expansion strategy. “This investment reflects the potential we see in India and the Middle East,” said Shan Aggarwal, Chief Business Officer at Coinbase. “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.“
From Market Speculation to Strategic Alignment
The contrast between July’s hack-era headlines and today’s investment announcement is striking. What began as acquisition speculation amid crisis has evolved into strategic alignment amid recovery. Rather than pursuing a takeover, Coinbase has opted for collaboration — supporting CoinDCX’s regional ambitions while strengthening its own presence in regulated, high-growth markets.
Aggarwal summed it up clearly: “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.”
