Coinbase Re-enters India: A Major Step for Cryptocurrency
Coinbase, one of the leading cryptocurrency exchange platforms, has officially reopened registrations in India after a two-year hiatus. This move marks a significant step toward expanding its footprint in one of the world’s largest digital asset markets. The platform now allows Indian users to register and conduct crypto-to-crypto trades, paving the way for broader financial inclusion in the region.
2026 Target for Fiat On-Ramp Integration
According to John O’Loghlen, Coinbase’s Director for Asia-Pacific, the company plans to enable Indian customers to load rupees into the app and purchase cryptocurrencies starting in 2026. This fiat on-ramp feature was previously unavailable, following Coinbase’s decision to halt operations in India after regulatory challenges in 2022. Returning with a ‘clean slate’ approach, the company aims to work closely with regulators and has already secured registration with India’s Financial Intelligence Unit.
Overcoming Regulatory Hurdles
India’s stringent tax framework for digital assets has long been a challenge for cryptocurrency platforms. With a 30% tax on digital asset income and a 1% tax deducted at source (TDS) on each trade, trading volumes have significantly declined. Despite these obstacles, Coinbase continues to push forward, investing heavily in the Indian market.
In October, Coinbase announced a substantial increase in its investment in CoinDCX, India’s largest crypto exchange. The partnership, which values CoinDCX at $2.45 billion, gives Coinbase a strategic entry point into the market and avoids the need to independently rebuild payment systems. Moreover, Coinbase plans to expand its workforce in India, which already consists of over 500 employees, further underlining its commitment to the region.
The Broader Vision: South Asia and Beyond
Coinbase views India as a gateway to broader opportunities across South Asia and the Middle East. With the growing adoption of Web3 technologies, the company’s efforts to engage with domestic regulators and expand its infrastructure show its long-term commitment to the region. By 2026, Indian users will not only be able to trade crypto but also seamlessly integrate traditional fiat currency into their digital transactions.
Crypto and Blockchain Adoption in India
The Indian government has collected an estimated $818 million in digital asset taxes since introducing these levies in 2022. While these policies have complicated operations for many platforms, they signal the growing relevance of crypto in the country’s economic landscape. As Coinbase deepens its investment in India and collaborates with local entities, it positions itself as a key player in fostering cryptocurrency adoption.
Crypto Users: Secure Your Wallet
For Indian users looking to maximize their crypto trading experience, consider a robust and secure cryptocurrency wallet like the Ledger Nano X. This hardware wallet ensures the safety of your digital assets while supporting a wide range of cryptocurrencies.
The future of crypto in India is bright, and Coinbase’s return is a testament to the potential of this rapidly evolving market.
