Coinbase Returns to India After Two-Year Exit, Plans Fiat On-Ramp in 2026
Coinbase has resumed user onboarding in India, marking its first step back into the market since it abruptly exited in 2023 amid regulatory concerns. The exchange now supports crypto-to-crypto trading and plans to reintroduce a fiat on-ramp next year, APAC director John O’Loghlen told India Blockchain Week.
The hiatus stems from a 2022 regulatory standoff. Coinbase initially launched with Unified Payments Interface (UPI) support, but withdrew the feature after the network operator declined to officially recognize the exchange. The firm later halted services completely, off-boarded millions of users, and closed local operations while reassessing regulatory risks.
Adopting a “clean slate” approach, Coinbase engaged directly with India’s Financial Intelligence Unit (FIU), completing registration earlier this year. An early-access program launched in October, and the app is now widely available, though trading remains limited to crypto pairs until fiat support returns.
India remains a challenging market due to a 30% flat crypto tax, restrictions on loss offsets, and a 1% transaction levy, which weigh on trading volumes.
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