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US-based crypto change Coinbase is about to re-open its app in India after exiting the market greater than two years in the past.
The change’s APAC director John O’Loghlen introduced Coinbase’s re-launch within the Indian market whereas talking at India Blockchain Week (IBW).
Merchants Can Make Crypto-To-Crypto Trades, Fiat On-Ramp To Comply with
Coinbase had launched its providers in India in 2022 after including assist for the Unified Funds Interface (UPI) fee community. Nevertheless, it needed to terminate its assist for the fee railway simply days later, after UPI operator Nationwide Funds Company (NPCI) refused to acknowledge Coinbase’s presence within the nation.
That led to Coinbase shutting down its providers to Indian merchants in 2023.
Since leaving the market, Coinbase has been actively working to rebuild its presence in India. The corporate began participating with the Monetary Intelligence Unit (FIU), a authorities company that oversees transactions and fraud, and earlier this yr registered with it.
That paved the best way for the change to start out onboarding customers by means of early entry in October. Now, the change’s app is open to all customers.
Customers can at present carry out crypto-to-crypto trades utilizing the Coinbase app and O’Loghlen mentioned fiat on-ramp will comply with quickly, permitting customers to load fiat forex and carry out fiat-to-crypto trades on the app.
India A Robust Crypto Market To Function In
India is without doubt one of the hardest markets for a crypto change to function, primarily as a result of it levies a 30% tax on crypto revenue with none loss offset. Regulators additionally cost a flat 1% deduction on every transaction, undermining higher-frequency buying and selling on change platforms.
Commenting on the present tax insurance policies in India, O’Loghlen mentioned that Coinbase hopes the federal government will chill out the taxation to make it simpler for traders to carry crypto.
Regardless of the regulatory and tax challenges, Coinbase stays hopeful about India. Its enterprise arm has just lately injected over $2.45 billion into the native platform CoinDCX at an equal post-money valuation.
There are 100M+ crypto homeowners in India and the Center East. And that’s rising, quick.
We’re excited to increase our presence in these areas by means of a brand new funding into India’s main change, @CoinDCX. pic.twitter.com/4anCrwiK5o
— Coinbase 🛡️ (@coinbase) October 15, 2025
Coinbase has additionally expressed plans to bolster its group in India, which is already round 500 individuals robust.
India Ranks Excessive Phrases Of Crypto Adoption
The Indian market is ranked first in international crypto adoption forward of locations together with the US, Pakistan, the Philippines and Brazil, in line with an October report from TRM Labs.
Prime international locations by crypto adoption (Supply: TRM Labs)
India has ranked primary for the previous three years.
Kraken And Binance Additionally Re-Enter The Indian Market
Coinbase isn’t the one crypto change trying to construct its share of the big Indian market, with Kraken, Binance and Bybit additionally making current strikes.
In early 2025, Kraken began making strikes in the direction of re-entering the market. Amongst these strikes is the appointment of Indian entrepreneur Vinesh Khurana as an advisor to steer its India operations.
Kraken has additionally engaged with native regulators, and is within the means of making use of for the required license to be a fully-compliant enterprise.
In the meantime, Binance re-entered the market again in August 2024 after it registered with FIU-IND as a “reporting entity,” fulfilling the required regulatory necessities. The change had additionally paid a $2.25 million penalty to regulators.
Bybit mentioned in September that it has restored full entry to its app on each the App Retailer and Google Play for customers in India as effectively.
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