US-based crypto exchange Coinbase will reopen its app in India after exiting the market over two years ago.
The exchange’s APAC director John O’Loghlen announced the relaunch of Coinbase in the Indian market during a speech at India Blockchain Week (IBW).
Traders can make crypto-to-crypto transactions, Fiat On-Ramp can follow
Coinbase had launched its services in India in 2022 after adding support for the Unified Payments Interface (UPI) payment network. However, days later, it had to end its support for the payments railroad after UPI operator National Payments Corporation (NPCI) refused to acknowledge Coinbase’s presence in the country.
That led to Coinbase terminating its services to Indian traders in 2023.
Since exiting the market, Coinbase has been actively working to rebuild its presence in India. The company began working with the Financial Intelligence Unit (FIU), a government agency that monitors transactions and fraud, and eArlier registered with him this year.
That cleared the way for the exchange to introduce users via early access in October. Now the fair’s app is open to all users.
Users can currently make crypto-to-crypto transactions using the Coinbase app and O’Loghlen said fiat-on-ramp will follow soon, allowing users to load fiat currency and make fiat-to-crypto transactions on the app.
India A difficult crypto market to operate in
India is one of the toughest markets for a crypto exchange, mainly because it imposes a 30% tax on crypto income without any loss compensation. Regulators also charge a flat-rate 1% deduction on each trade, which undermines high-frequency trading on exchange platforms.
Commenting on current tax policies in India, O’Loghlen said Coinbase hopes the government will relax taxation to make it easier for investors to own crypto.
Despite the regulatory and tax challenges, Coinbase remains hopeful about India. The venture arm recently injected more than $2.45 billion into local platform CoinDCX at an equivalent post-money valuation.
There are more than 100 million crypto owners in India and the Middle East. And that is growing quickly.
We are excited to expand our presence in these regions through a new investment in India’s premier stock exchange, @CoinDCX. pic.twitter.com/4anCrwiK5o
— Coinbase 🛡️ (@coinbase) October 15, 2025
Coinbase has also expressed plans to strengthen its team in India, which is already about 500 people strong.
India scores high conditions for crypto adoption
According to an October report, the Indian market ranks first in global cryptocurrency adoption, ahead of countries such as the US, Pakistan, Philippines and Brazil. report from TRM Labs.
Top Countries in Crypto Adoption (Source: TRM Labs)
India has been number one for the past three years.
Kraken and Binance are also re-entering the Indian market
Coinbase isn’t the only crypto exchange trying to build its share in the large Indian market; Kraken, Binance and Bybit have also made recent moves.
In early 2025, Kraken began taking steps to reenter the market. One of these steps is the appointment of Indian entrepreneur Vinesh Khurana as an advisor to lead the Indian operations.
Kraken has also worked with local regulators and is in the process of applying for the necessary license to be a fully compliant company.
Meanwhile, Binance re-entered the market in August 2024 after registering with the FIU-IND as a ‘reporting entity’, thus meeting the necessary regulatory requirements. The exchange had also paid a $2.25 million fine to regulators.
Bybit said in September that it has also restored full access to its app on both the App Store and Google Play for users in India.
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