Coinbase backs CoinDCX at $2.45 Bn valuation

Crypto exchange CoinDCX has announced an undisclosed investment from Coinbase at a post-money valuation of $2.45 billion.

Coinbase has been an investor in CoinDCX since 2020. According to the company, the current investment round is an extension of the previous one. In April 2022, CoinDCX raised $135 million at a valuation of over $2 billion, with Coinbase also participating in the round.

CoinDXCturned unicorn in August 2021 when the firm raised $90 million in Series C round. 

The new funding will support product development, new on-chain use cases,…