Coinbase Reopens India Onboarding After Two-Year Freeze, Plans Fiat On-Ramp in 2026
Coinbase has resumed onboarding users in India after more than two years of suspension, initially offering crypto-to-crypto trading while planning to reintroduce fiat on-ramps in 2026. Earlier this year, Coinbase completed its Financial Intelligence Unit (FIU) registration following direct engagement with Indian authorities. Early-access admissions for users began in October, and the app is now broadly open, although trading remains limited to cryptocurrencies pairs until fiat rails return.
The 2023 halt of Coinbase's services in India came after regulatory friction surrounding payment rails. Notably, a 2022 launch involving the Unified Payments Interface (UPI) was withdrawn by Coinbase after the operator did not acknowledge it, which led to complete service cessation and off-boarding of users. John O'Loghlen, Coinbase's APAC director, described the recent move as a "clean slate approach" during India Blockchain Week.
In addition to reopening services, Coinbase has increased its stake in the local exchange CoinDCX, which recently achieved a $2.45 billion valuation. The company plans to expand its India workforce, which currently exceeds 500 employees, across both domestic and global product lines.
Despite these developments, India remains a challenging market for cryptocurrency firms due to its regulatory environment. This includes a 30% flat tax on crypto gains, a 1% transaction levy, and a prohibition on offsetting losses, all of which have negatively impacted trading volumes. For now, trading on Coinbase in India is restricted to crypto pairs, with the expectation that fiat trading options will return next year.
