- Coinbase has relaunched its app in India, allowing new sign-ups and crypto-to-crypto trading after over two years of suspension.
- The exchange aims to introduce fiat on-ramps in 2026, enabling direct purchases using Indian rupees.
- This move comes amid India’s leading position in global crypto adoption, despite stringent taxes and regulations.
Coinbase has made a significant return to the Indian market by resuming user onboarding after a prolonged hiatus triggered by regulatory challenges.
The relaunch permits Indian users to register and conduct crypto-to-crypto trades, including popular currencies such as Bitcoin and Ethereum, but fiat deposits are slated for reintroduction in 2026.
According to The Block, Coinbase’s comeback follows its registration with India’s Financial Intelligence Unit (FIU) for anti-money laundering compliance, mirroring steps taken by peers like Binance.
The exchange’s troubles in India began in April 2022 when it disabled Unified Payments Interface (UPI) support shortly after launch due to resistance from the National Payments Corporation of India (NPCI). By September 2023, Coinbase had fully ceased operations and off-boarded millions of users to start afresh.
John O’Loghlen, Coinbase’s APAC director, highlighted the strategy at India Blockchain Week: “We had millions of customers in India, historically, and we took a very clear stance to off-board those customers entirely from overseas entities… it wasn’t without some hesitation,”.
India’s crypto landscape remains challenging with a 30% tax on gains without loss offsets and a 1% tax deducted at source (TDS), which have dampened trading activity. O’Loghlen expressed optimism for policy changes to encourage broader participation.
Coinbase is bolstering its local presence through investments, including funding in Indian exchange CoinDCX at a $2.45 billion valuation, and employs over 500 staff in India with plans for further hiring, as noted by CoinGape.
The development has garnered attention on social media, with Cointelegraph posting on X about the relaunch, underscoring its importance for crypto adoption in the region.
While this could enhance accessibility, potential risks from evolving regulations warrant caution for investors.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.