Coinbase reopens app in India after two-year hiatus: report
Coinbase has resumed onboarding users in India after more than two years, marking a return to a market where regulatory barriers previously forced the U.S. crypto exchange to scale back operations, according to TechCrunch.
TechCrunch reported Sunday that Coinbase has reopened its app to Indian users through an early-access program in October and has now made registrations fully available.
Coinbase APAC Director John O'Loghlen said at India Blockchain Week that for now, Indian customers can conduct only crypto-to-crypto trades. A full fiat on-ramp is planned for 2026, according to the report.
The Block has reached out to Coinbase for further information.
Coinbase disabled its support for the Unified Payments Interface in April 2022, just days after launching in the country. UPI is a real-time payment system developed by the National Payments Corporation of India to facilitate inter-bank transactions using a mobile phone. In September 2023, the exchange reportedly halted all services from local users.
Since then, the company has been working to rebuild its presence in India. It stepped up its engagement with local regulators this year, registering with the Financial Intelligence Unit to comply with anti-money laundering oversight. That registration paved the way for Coinbase's reopening.
In October, the company announced an investment in local crypto exchange CoinDCX as part of its broader expansion strategy across India and the Middle East.
India continues to see vibrant crypto activity. The country ranked first in global crypto adoption for the third consecutive year, ahead of the U.S., Pakistan, the Philippines and Brazil, according to an October report from TRM Labs.
Some other global exchanges have also made their way back into India. In September, Bybit said it restored full access to its app on both the App Store and Google Play for users in the country. Binance also re-entered India in August 2024 after paying a $2.25 million penalty.
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