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Key Takeaways
- Coinbase has reopened its app for user registration in India with crypto-to-crypto trading and plans to enable fiat on-ramps by 2026.
- The company said earlier this year it had engaged with India’s Financial Intelligence Unit to facilitate its re-entry into the Indian market after withdrawing due to regulatory challenges.
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Coinbase has resumed onboarding users in India after a hiatus, with plans to establish a fiat on-ramp by 2026, according to Coinbase’s APAC director John O’Loghlen.
The platform currently enables crypto-to-crypto transactions and intends to allow Indian users to fund their accounts and purchase crypto directly.
The development follows Coinbase’s brief 2022 registration in India, subsequent suspension, and complete withdrawal earlier in 2023 due to regulatory challenges.
Earlier this year, the exchange said it was re-engaging with Indian regulators, including the Financial Intelligence Unit (FIU-IND), as it sought to re-enter the market.
Later in October, the company announced it made an investment in CoinDCX, India’s leading FIU-registered exchange offering INR-based futures trading and advanced market tools.
With Binance already reinstated in India after resolving its own compliance issues, competition among global exchanges is expected to intensify.
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