Coinbase Returns To India After Two-Year Halt, Plans INR-To-Crypto Trading In 2026
In October, Coinbase started onboarding users through early access. Now, the app is available for all users in India.
Coinbase, a major cryptocurrency exchange, has reopened its user registration in India after over a two-year pause, TechCrunch reported on Sunday. The crypto platform is returning to the market and plans to launch an INR-to-crypto fiat ramp in 2026. With this, users will be able to buy and sell cryptocurrencies directly using Indian rupees.
The company first launched its services in India in 2022 but ceased operations due to regulatory hurdles. Users are currently allowed to make only crypto-to-crypto trades on Coinbase.
Speaking at India Blockchain Week (IBW), Coinbase’s APAC director John O’Loghlen said that the company will launch a fiat on-ramp in 2026, enabling Indian users to add money and directly buy crypto, according to TechCrunch.
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“We had millions of customers in India, historically, and we took a very clear stance to off-board those customers entirely from overseas entities, where they were domiciled and regulated. Because we wanted to kind of burn the boats [sic], have a clean slate here.
As a commercial business person wanting to make money and active users, that’s like the worst thing you can do, and so you know it wasn’t without some hesitation,” O’Loghlen was quoted as saying by TechCrunch.
In February, Reuters reported that the company was engaging with the Financial Intelligence Unit (FIU), India’s apex agency that monitors transactions and suspicious investments to prevent money laundering.
It later registered with the FIU this year. In October, Coinbase started onboarding users through early access. Now, the app is fully open for all users in India.
Why Coinbase Ceased India Operations?
After its launch in India in 2022, Coinbase had to suspend support for the Unified Payments Interface (UPI) within days. This happened because the regulator, National Payments Corporation of India (NPCI), did not acknowledge Coinbase’s operations.
Later in 2023, Coinbase stopped all services for Indian users and asked them to close or transfer their accounts. In October, Reuters reported that Coinbase Global invested in Indian crypto exchange CoinDCX, valuing the company at $2.45 billion post-money.
The deal follows earlier investments by Coinbase Ventures as the company seeks to bet on India and its neighbours. The company sees this as a key opportunity as it expects India as one of the emerging leaders in shaping the future of the global ‘on-chain’ economy, according to Shan Aggarwal, Chief Business Officer at Coinbase.
