Coinbase resumes operations in India and is working toward launching direct rupee deposits next year.
Coinbase outlines its India comeback plan during India Blockchain Week 2025
Photo Credit: Unsplash/Viktor Forgacs
Coinbase has begun accepting signups from new users in India after nearly two years, as the crypto firm prepares to enter the country again. At the Indian Blockchain Week (IBW 2025), held in Bengaluru, the exchange stated that Indian users can once again register and trade cryptocurrencies and digital assets on its platform. Additionally, Coinbase stated that it plans to launch a fiat on-ramp in 2026, allowing users to freely deposit rupees and buy digital assets straight from the platform. The return highlights a resurgence of interest in the Indian market, where the exchange had to halt operations due to operational and regulatory issues.
In 2022, the crypto exchange tried to enable crypto trading through the Unified Payments Interface (UPI). But according to the National Payments Corporation of India (NPCI), cryptocurrency transactions are not covered by UPI. As a result, the exchange had to halt UPI-based deposits and withdrawals and severely restrict users. Due to increasing regulatory and compliance requirements, Coinbase stopped accepting new users in India by 2023, leaving its current users with restricted access to the platform.
Coinbase executives said that resumption of the exchange's operations in India was a strategic step forward for the firm. At IBW 2025, John O'Loghlen, the company's regional director for APAC, said that India remains a vital market because of its large developer base and growing Web3 ecosystem.
He further added that Coinbase plans to rebuild sustainably while working closely with local regulatory bodies. O'Loghlen also said that restoring fiat support remains a long-term objective, which will all depend on regulations and banking relationships.
After engaging with regulators over the course of a year, Coinbase confirmed in March that it had successfully registered with the Financial Intelligence Unit (FIU) in India, bringing the exchange under India's anti-money laundering and reporting requirements.
Coinbase's return and the plan of introducing a fiat on-ramp in 2026 are expected to enhance accessibility for Indian users who are battling limited trading opportunities. This decision may also lead to the development of clearer and user-friendly crypto services within the country.
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