Coinbase Reopens in India After Two-Year Hiatus, Targets Fiat On-Ramp in 2026
Coinbase has resumed onboarding users in India, marking its first return since exiting the market in 2023 over regulatory concerns. The exchange currently supports crypto-to-crypto trading and plans to reintroduce a fiat on-ramp next year, APAC director John O’Loghlen said at India Blockchain Week.
The exit followed a 2022 standoff, when Coinbase launched with Unified Payments Interface (UPI) support but withdrew it after the network operator declined recognition. The company later halted services, off-boarded millions of users, and shuttered local access while reassessing regulatory exposure.
Pursuing a “clean slate” approach, Coinbase engaged directly with India’s Financial Intelligence Unit (FIU), completing registration earlier this year. An early-access program began in October, and the app is now broadly available, though trading remains limited to crypto pairs until fiat rails return.
India remains a challenging market due to a 30% flat crypto tax, restrictions on loss offsets, and a 1% transaction levy, which continue to weigh on trading volumes.
