Coinbase is negotiating the acquisition of CoinDCX, India’s largest cryptocurrency exchange, in a strategic move to expand within one of the world’s fastest-growing digital asset markets. This development follows CoinDCX’s significant valuation decline after suffering a $44 million security breach earlier this year.
India’s crypto landscape presents a prime opportunity with over 93 million cryptocurrency holders, positioning it as a critical growth target for Coinbase. Despite the recent security incident that slashed CoinDCX’s valuation below $1 billion from its peak of $2.15 billion, the exchange maintains robust operations with a 10-million-strong user base and expanding workforce.
CoinDCX currently holds the 397th position among global centralized exchanges, recording $14 million in daily trading volume and safeguarding $160 million in total assets. A successful acquisition by Coinbase would profoundly impact India’s crypto market dynamics, accelerating institutional adoption.