Coinbase returns to India, plans full fiat launch in 2026
Coinbase is officially returning to India after a year-long regulatory freeze, reopening sign-ups and restoring crypto-to-crypto trading for local users.
The move follows the exchange’s 2023 exit, when it offboarded all Indian customers due to compliance conflicts and halted operations entirely, reports Coinbase.
Speaking at India Blockchain Week, APAC director John O’Loghlen confirmed that Coinbase will launch a full fiat gateway in 2026, enabling rupee deposits and direct asset purchases. He acknowledged that leaving the market was “painful but necessary” given the regulatory pressures at the time. Coinbase has since registered with the Financial Intelligence Unit and resumed onboarding through an early-access program in October. The company says it intends to rebuild trust and position itself as India’s most reliable digital asset platform.
Regulatory clarity improves, but India’s tax environment remains a challenge
Coinbase’s re-entry comes with ongoing concerns about India’s stringent tax framework, which includes a 30% tax on crypto profits and a 1% TDS on every transaction. O’Loghlen admitted these rules discourage active trading, but he believes the environment will improve as policymakers refine long-term digital asset regulation.
The exchange is betting on India’s massive user base and global leadership in crypto adoption—ranking number one worldwide for three consecutive years according to TRM Labs. Coinbase also deepened its local footprint by investing in CoinDCX, helping boost its valuation to $2.45 billion. The company argues that building compliance-first operations today will create advantages once India eventually relaxes its tax regime. Still, near-term growth may hinge on whether lawmakers ease the burden on retail traders.
Coinbase expands India workforce as it targets long-term leadership
As part of its renewed strategy, Coinbase plans to significantly scale its India operations with new hires in engineering, compliance, and product roles. It already employs more than 500 people in the country and aims to integrate local talent into its global product roadmap. O’Loghlen emphasized that the exchange’s mission is to become the most trusted brand in India’s digital asset sector, highlighting user safety as a core priority.
The 2026 fiat launch is expected to be a major milestone, allowing Coinbase to compete directly with domestic platforms for the first time since the failed 2022 UPI rollout. By aligning with regulators and strengthening institutional relationships, the exchange hopes to avoid the missteps of its initial market entry. Whether Coinbase can secure a lasting foothold will depend on regulatory cooperation and sustained user confidence in the years ahead.
Recently we wrote that Coinbase has partnered with major U.S. banks including JPMorgan Chase and PNC Bank to launch pilot initiatives around stablecoin integration, crypto custody, and digital asset trading, aiming to bring digital currencies closer to traditional banking through features such as Chase credit card funding for Coinbase accounts.
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