Acquisition Would Deepen Coinbase’s Strategic Presence in India’s Growing Crypto Market

Coinbase, the leading U.S.-based cryptocurrency exchange, is reportedly in advanced negotiations to acquire CoinDCX, one of India’s largest crypto trading platforms, according to a report from Indian financial publication Mint. The acquisition talks follow a recent $44.2 million hack on CoinDCX earlier this month and may signal Coinbase’s continued push into the Indian market.

Deal Valued Below $1 Billion, Marking Major Discount

According to two anonymous sources cited in the Mint article, Coinbase is exploring a deal valued at under $1 billion. This represents a significant markdown from CoinDCX’s previous valuation of $2.2 billion in April 2022.

“Coinbase sees this as a long-term strategic bet,” one source stated. “Buying CoinDCX at this discounted valuation is essentially a low-cost gamble—positioning itself for potential upside if India’s crypto market eventually matures.”

Coinbase already holds a minority stake in CoinDCX, and the proposed acquisition could consolidate that investment while offering an opportunity to expand its operational footprint in India, the world’s most populous country.

Coinbase Declines to Confirm or Deny

A Coinbase spokesperson declined to confirm the report, telling Cointelegraph:

“We don’t comment on rumors or speculation. We have a bold mission to increase economic freedom in the world, and are constantly exploring opportunities around the world to build, buy, partner and invest to accelerate our roadmap.”

CoinDCX Recovering from $44 Million Security Breach

The reported acquisition discussions come just 11 days after CoinDCX experienced a $44.2 million exploit on July 18. The attack targeted an operational wallet, which was drained rapidly, though customer funds were not affected due to CoinDCX’s security protocols.

The incident has raised concerns within India’s crypto community and may have contributed to the company’s reduced valuation. However, CoinDCX has been working to restore operations and rebuild trust among users and stakeholders.

Strategic Alternatives: Combining Stakes in CoinDCX and CoinSwitch?

One of Mint’s sources also noted that Coinbase may be considering the strategic consolidation of its stakes in CoinDCX and CoinSwitch, another leading Indian exchange. While no formal talks are currently underway regarding such a merger, the move could potentially create a dominant player in India’s crypto ecosystem.

Coinbase’s growing interest in India comes on the heels of its registration with India’s Financial Intelligence Unit (FIU) in March 2025—a move seen as a signal of its commitment to operating in compliance with local regulations.

Coinbase’s Global Expansion Continues

Coinbase’s interest in CoinDCX is consistent with its broader global expansion strategy, which includes multiple recent acquisitions aimed at strengthening its competitive position in key markets.

In May, Coinbase completed a $2.9 billion cash-and-stock acquisition of Deribit, a leading crypto derivatives exchange. The acquisition marked Coinbase’s entry into the derivatives space, an area that has seen rapid growth in crypto trading volumes.

More recently, Coinbase acquired Liquifi, a token management platform catering to early-stage Web3 projects, signaling its intent to build infrastructure support for developers and startups in the crypto space.

India: A Critical Market for the Next Phase of Crypto Growth

With a population exceeding 1.4 billion and rapidly increasing smartphone and internet penetration, India represents a massive opportunity for global crypto firms. However, the regulatory environment remains complex and evolving, with uncertain policies around taxation, asset classification, and consumer protection.

Still, major players like Coinbase appear willing to take a long-term view on India, betting on eventual regulatory clarity and mass adoption of digital assets.

Outlook: High Risk, High Reward

If completed, the CoinDCX acquisition would mark one of Coinbase’s boldest strategic bets in emerging markets, offering a foothold in one of the world’s fastest-growing digital economies. Despite the risks associated with security breaches and unclear regulation, Coinbase appears to be doubling down on its global vision.

With continued consolidation and expansion across Asia, Europe, and Latin America, Coinbase is positioning itself as more than just an American exchange—it aims to become a truly global crypto infrastructure provider.