Coinbase has resumed onboarding users in India after more than two years, returning to a market where regulatory barriers previously forced the U.S. exchange to scale back operations.
The exchange 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 announced at India Blockchain Week that Indian customers can currently conduct only crypto-to-crypto trades.
A full fiat on-ramp is planned for 2026, allowing users to directly convert local currency into cryptocurrency. The phased approach reflects Coinbase's strategy to rebuild presence while navigating India's regulatory environment.
Navigating Regulatory Hurdles
Coinbase disabled 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 facilitating inter-bank transactions through mobile phones. The exchange reportedly halted all services for local users in September 2023.
The company has been working to rebuild its Indian presence since the service suspension. Coinbase stepped up engagement with local regulators this year, registering with the Financial Intelligence Unit to comply with Anti-Money Laundering oversight requirements.
That registration paved the way for Coinbase's reopening after more than two years of limited operations. The company announced an investment in local crypto exchange CoinDCX in October as part of its broader expansion strategy across India and the Middle East.
India's Growing Crypto Landscape
India continues to show vibrant crypto activity despite regulatory challenges. 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.
Other global exchanges have also returned to India recently. Bybit restored full access to its app on both the App Store and Google Play for Indian users in September, demonstrating renewed confidence in the Indian digital-asset market.