Coinbase India is making an amazing comeback in the cryptocurrency exchange market after a two-year hiatus. The major U.S. cryptocurrency exchange, Coinbase, has resumed its operations in India and is set to roll out local fiat on-ramps by 2026. This strategic move was announced by John O’Loghlen, Coinbase APAC director, during the India Blockchain Week (IBW), as reported by TechCrunch.
The return of Coinbase to India marks a significant step, more than two years after it initially ceased local services in September 2023. The exit followed a troubled debut of its local exchange in 2022. O’Loghlen stated, “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, have a clean slate here.”
Immediate Crypto-to-Crypto Trades
As Coinbase India resumes its customer onboarding process, users can immediately engage in crypto-to-crypto trades. This was highlighted in a TechCrunch report, noting that the exchange began onboarding users through an early-access program in October. This move coincided with the hiring of Karan Malik as the India marketing lead. Malik, who had previously managed marketing for the IBW event, stated, “Last year, I was leading the charge and building the marketing and brand playbook for IBW. This year, I’m bringing Coinbase to the party.”
Strengthening Indian Ties
Coinbase is actively working to rebuild its relationship with the Indian government. In December, Katie Mitch, the exchange’s international policy adviser, presented before India’s Parliamentary Standing Committee on Finance. She expressed optimism about the potential for forward-looking Virtual Digital Assets (VDA) regulation in India.
Moreover, a memorandum of understanding was signed between Priyank Kharge, Karnataka’s IT minister, and Coinbase India. This agreement aims to boost the state’s leadership in blockchain innovation and cybersecurity. The collaboration will focus on startup incubation on the Coinbase-backed Base protocol and expedite real-world blockchain applications.
Future Prospects for Coinbase India
In a strategic move earlier this year, Coinbase secured a license with India’s Financial Intelligence Unit in March 2025, paving the way for its potential relaunch. Additionally, Paul Grewal, Coinbase’s chief legal officer, met with Karnataka’s IT minister Kharge to discuss collaboration on developer tools, cybersecurity, and blockchain governance.
As Coinbase India gears up for this exciting new chapter, the exchange is poised to play a significant role in the country’s growing cryptocurrency landscape. This comeback has invigorated the market, offering new opportunities for traders and investors alike.
