Coinbase, the largest US-based cryptocurrency exchange, has officially resumed operations in India after a two-year hiatus. This marks the start of a new chapter for Coinbase in the Indian market, with plans to expand its local presence through strategic partnerships, ecosystem development, and a fiat on-ramp projected for 2026.
Why Did Coinbase Halt Operations in India?
Initially, Coinbase launched its services in India in April 2022, aiming to capture the country’s booming crypto user base. However, shortly after the launch, the National Payments Corporation of India (NPCI) distanced itself, leading to the suspension of Unified Payments Interface (UPI) support. By September 2023, Coinbase completely stopped accepting sign-ups and requested users withdraw their balances.
Despite these challenges, Coinbase maintained an open channel with regulators, demonstrating its commitment to long-term growth in India. The company began collaborating closely with Indian authorities in early 2025 to ensure compliance with local regulations.
What’s Next for Coinbase in India?
In October 2025, Coinbase introduced a limited early-access program to onboard Indian users once again. As of now, users can engage in crypto-to-crypto transactions, while discussions on fiat support are ongoing. According to John O’Loghlen, Coinbase’s APAC director, the company is aiming to roll out a fiat on-ramp feature by 2026. This feature would allow Indian users to deposit local currency and purchase cryptocurrency directly on the platform.
“We had millions of customers in India, historically. By re-entering this market with a clean slate, we’re committed to aligning with local regulations while focusing on providing value to users,” O’Loghlen stated during the India Blockchain Week.
Strategic Partnerships Fueling Expansion
Coinbase’s reentry into the Indian market isn’t limited to user onboarding. The platform announced a strategic investment in CoinDCX, India’s leading crypto exchange with a user base exceeding 20 million. Additionally, Coinbase has partnered with the Karnataka government to enhance blockchain education and developer ecosystems. These initiatives include training programs, startup incubation, and public awareness campaigns.
Notably, other global exchanges like Binance and Bybit have also resumed operations in India, despite the nation’s stringent crypto tax policies. India’s 30% capital gains tax on cryptocurrencies and its 1% Tax Deducted at Source (TDS) per transaction haven’t deterred growth. According to Chainalysis, India leads the Asia-Pacific region in crypto activity with a market value of $338 billion in 2023.
India’s Rapid Growth in Crypto Adoption
India’s unique market dynamics make it an attractive hub for blockchain technology and digital assets. Factors like a tech-savvy population, remittance requirements from a large diaspora, and the popularity of fintech solutions such as UPI have collectively driven adoption. These characteristics position India as a leader in cryptocurrency activity across the Asia-Pacific region.
If you’re interested in exploring the blockchain ecosystem or diving into cryptocurrency trading, now is a great time to prepare for market opportunities. Products like the Coinbase Wallet provide a secure, user-friendly way to manage your digital assets. You can visit Coinbase’s official site to learn more.
As more global exchanges like Coinbase reestablish their footing in India, the country seems poised to emerge as a pivotal player in the crypto space, despite its complex regulatory landscape.
