Coinbase has successfully secured approval from India’s Financial Intelligence Unit (FIU), marking a pivotal step toward re-establishing its presence in the country’s crypto market. The exchange announced its plans on March 11, confirming that it will launch retail trading services later this year, with additional investments and product expansions on the horizon.
This development signals a renewed effort by Coinbase to establish a foothold in India, following an unsuccessful attempt in 2022. Unlike its previous entry, this time, Coinbase is emphasizing close collaboration with Indian regulators to ensure responsible and compliant crypto adoption.
According to the company, obtaining FIU registration is a major milestone in its global strategy, reinforcing its commitment to compliance, security, and fostering innovation in a regulated environment.
Why India? A Thriving Crypto Ecosystem
India’s rapidly growing technology sector and blockchain development community make it a prime target for crypto adoption. Coinbase views the country as a critical market, with a rising number of blockchain developers and increasing interest in digital assets among retail investors.
John O’Loghlen, Coinbase’s Regional Managing Director for the Asia-Pacific region, emphasized the country’s potential, stating:
“Too often, young Indian entrepreneurs have felt forced to look abroad to build global companies. Crypto can change that. By expanding access to our trusted platform and tools such as Base, we aim to empower a new generation of builders to stay home, innovate locally, and scale globally.”
India has emerged as a leading hub for on-chain development, with the country’s share of global blockchain developers rising from 3% in 2018 to 12% in 2023. It now holds the highest concentration of on-chain talent among emerging markets.
The Future of Coinbase in India
With the FIU approval secured, Coinbase aims to provide Indian traders and investors with access to its trusted platform, offering secure and compliant trading opportunities. The exchange’s focus will not only be on retail trading but also on fostering a more robust blockchain ecosystem within India.
As digital assets continue to gain popularity in India, Coinbase’s re-entry could significantly influence the local market, providing Indian developers and investors with more opportunities to engage with the global crypto economy.