CoinDCX — Indian CEX / FIU-IND PMLA reporting entity overview

Wiki route

This entry sits under exchanges index. Read it against WazirX for the closest India peer / contrast context, global CEX top 10 comparison for the broader global benchmark, and global VASP regulatory comparison for the regulatory boundary view.

Established 2018-04 · Indian INR spot CEX · backed by B Capital / Pantera · FIU-IND PMLA registered reporting entity · 2022-04 Series D (valuation approx. $2.15B)

1. Entity / shareholders

• Trade name: Neblio Technologies Private Limited (brand name CoinDCX)
• Established: 2018-04
• Head office location: Mumbai, Maharashtra, India
• Founders: Sumit Gupta (CEO), Neeraj Khandelwal (CTO)
• Major shareholders / funding rounds:
  • Bain Capital Ventures — Series A
  • B Capital Group (co-founded by Eduardo Saverin) — Series B / Series C / Series D in succession
  • Pantera Capital — Series A / Series B
  • Polychain Capital — early investment
  • Coinbase Ventures — strategic investment
  • Block.one — Series A-period investment
  • Jump Crypto — Series D investment
  • Kingsway Capital — Series D
  • Steadview Capital — Series D
• 2022-04 Series D funding: at $135M, $2.15B valuation, becoming India’s crypto industry’s first Unicorn

2. Registration / licensing status (India framework)

• FIU-IND (Financial Intelligence Unit – India) registration: announced its registration in 2023 as a PMLA (Prevention of Money Laundering Act, 2002) reporting entity
  • Registration following the Indian government extending the PMLA in 2023-03 and designating VASPs as reporting entities
  • The first full-scale application of AML/CFT regulation to domestic VDA (Virtual Digital Asset) platforms
• GST registration: 18% GST levied on transaction fees
• 1% TDS (Tax Deducted at Source): enforced 2022-07-01, withheld at source on all VDA transactions (India residents)
• 30% capital gains taxation: a flat 30% tax on VDA disposal gains (enforced 2022-04 , no loss offset allowed)
• RBI / SEBI: as of 2026, no direct VASP authorization framework is in place (FIU-IND registration is the de facto highest-tier license)

3. Supported assets

• INR spot market (legal as a PMLA reporting entity)
• Offers INR-denominated and stablecoin-denominated spot products. Because individual listings change over time, this entry does not fix an asset count
• USDT / USDC market co-located
• Two-app parallel structure of CoinDCX Pro / CoinDCX Go (UX separation for professional and retail users)

4. Scope of business

• Spot trading (centered on INR pairs)
• Derivatives: futures trading (offered via offshore as CoinDCX International; scaled back for India-domestic users due to regulatory risk)
• staking: limited service (DCX Earn products)
• Fiat deposits: via India-domestic bank accounts (IMPS / UPI / NEFT). The UPI route is intermittently restricted depending on banks’ stance toward crypto
• B2B / institutional: DCX Insurance, custody via CoinDCX Custody (partly for institutional clients)

5. How to read scale information

• Market share, 24h volume, rank, and listing count change with the observation time and dataset, so this entry does not adopt fixed values
• Peer comparisons should not mix the Indian domestic service with the international version and should use the same as-of date, market, and currency pairs
• As a static company-scale reference, distinguish the $135M raised in the 2022-04 Series D from the approximately $2.15B valuation

6. History / major events

Source: The entire table is based on CoinDCX’s official company profile and CoinDCX’s own announcement of its FIU-IND registration, checked on 2026-07-29.

7. Strategic developments

• Regulatory-dialogue strategy: continuous dialogue with the Indian government (Ministry of Finance / FIU-IND / RBI / SEBI), advancing regulatory development as a key member of the industry body Bharat Web3 Association (BWA)
• Resilience disclosure: the 2024-07 WazirX incident is used only as regional custody-risk context; this entry does not infer a transfer of market share to CoinDCX
• CoinDCX Ventures: an investment fund for Web3 / India-origin Web3 projects; an ecosystem-expansion strategy
• International expansion: futures / leveraged trading via CoinDCX International (offshore entity), though provision to India-domestic users is under regulatory-risk management
• 1% TDS handling: implemented automatic calculation / reporting systems for India’s unique withholding framework, countering customer outflow to overseas CEXs (the offshore arms of Bybit / Bitget, etc.)
• proof-of-reserves: appeals to transparency via periodic PoR disclosure, in line with global CEX best practice

8. Position within the industry

CoinDCX is an Indian CEX for which FIU-IND registration, institutional funding, and the 2022-04 Series D valuation can be examined together. This entry does not fix a changing market rank or infer regional dominance, and keeps regulatory, corporate, and product information separate.

The structural features of the India market are (a) trading-volume contraction from 1% TDS, (b) the impossibility of loss-offset on 30% capital gains, (c) domestic KYC/AML control from FIU-IND PMLA registration, and (d) the instability of UPI bank access — these largely determine the earnings volatility of domestic CEXs such as WazirX / CoinDCX / ZebPay.

Related

• cex-wazirx-india — Indian CEX / 2024-07 cyberattack comparison (most important cross-link)
• global-cex-top10-comparison — Global CEX top 10
• global-vasp-regulatory-comparison-matrix — Global VASP regulation comparison
• INDEX — Exchange domain index
• global-crypto-forensics-vendor-layer — Custody/forensics layer such as Liminal
• jp-foreign-exchange-bybit — Comparison of offshore outflow destinations for India residents
• cex-bithumb-korea — Asia-region CEX comparison

Sources

• Compilation of public information (CoinDCX official IR / About page, coindcx.com)
• Compilation of public information (FIU-IND PMLA Reporting Entity registration notice, fiuindia.gov.in)
• Compilation of public information (B Capital / Pantera Capital / Steadview Capital investment-round announcements)
• Compilation of public information (Reserve Bank of India / SEBI / Ministry of Finance crypto-related statements / circulars)
• Compilation of public information (CoinDCX Series D funding 2022-04 Unicorn valuation reporting, TechCrunch / Economic Times)
• Compilation of public information (India 1% TDS tax framework 2022-07 enforcement-related Indian Express / Economic Times reporting)
• Compilation of public information (Bharat Web3 Association member list / official statements)
• Compilation of public information (industry developments after the 2024-07 WazirX Liminal hack, CoinDesk / Decrypt / The Block)