The size of the investment was not disclosed but Coinbase has previously participated in several CoinDCX funding rounds.
Shan Aggarwal, chief business officer, Coinbase, notes: “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.”
CoinDCX has secured a sizable chunk of the market, with over 20 million users and $165 billion in annualised transaction volumes as of July.
Says CoinDCX: “This fresh capital helps us accelerate our vision and enables us to take bolder and more ambitious bets – strengthening our business across India and the UAE, entering new markets, launching new products in the broader web3 space.”
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