Coinbase has restarted user registrations in India after a two-year pause, marking a renewed attempt to build a stable presence in one of the world’s largest digital markets. The exchange now allows users to trade crypto pairs, and it plans to introduce a full cash-to-crypto system in 2026.
This milestone signals a shift in Coinbase’s strategy for India. The company wants long-term growth in a country with strict rules and heavy taxes on digital assets. Moreover, India’s rising tech adoption offers a large opportunity for firms that can operate within clear regulatory expectations.
Coinbase Resets Strategy After Previous Exit
According to a TechCrunch report, the company first launched services in India in 2022. However, it stopped support for UPI payments within days due to a dispute with NPCI. That setback eventually led the exchange to remove all Indian users from its platforms in 2023.
O’Loghlen said the team wanted “a clean slate here,” adding that off-boarding millions of users was difficult. He noted that the choice felt like “the worst thing you can do” from a commercial view.
Besides resetting operations, Coinbase strengthened its engagement with regulators. It worked with the Financial Intelligence Unit this year. Consequently, it received approval to restart onboarding in October through limited access. The company then opened registration to all users as it gained confidence in the new structure.
New Plans Aim to Deepen India Presence
Coinbase expects stronger growth once the fiat on-ramp launches in 2026. The feature will allow Indian users to add money and buy crypto directly.
Additionally, O’Loghlen said Coinbase wants to build trust by offering strong protection standards and simple onboarding. He said the company aims to ensure that user funds remain safe on the platform and added that new customers can join within minutes.
Significantly, Coinbase continues to invest in India despite strict tax rules. The country charges a 30% tax on crypto gains and a 1% levy on each transaction. These costs limit frequent trading. Hence, the company hopes the government eases the rules to support broader participation.
Investments Show Long-Term Commitment
Coinbase Ventures recently invested more capital into CoinDCX at a $2.45 billion valuation. Moreover, Coinbase plans to expand its local workforce of more than 500 employees. It will hire across product, engineering, and compliance roles focused on global and domestic growth.