Coinbase, one of the world’s leading cryptocurrency exchanges, is making a comeback in India. After suspending operations last year due to regulatory challenges, the platform is now offering early access to select users. This move signals Coinbase’s intent to return to the Indian market and provide a secure, user-friendly way for people to trade cryptocurrencies like Bitcoin and Ethereum.
What Is Coinbase?
Coinbase is one of the most popular cryptocurrency exchanges in the world. It allows users to buy, sell, and store digital currencies like Bitcoin, Ethereum, and other cryptocurrencies. Known for its simple and user-friendly platform, Coinbase is designed to make trading and learning about crypto easy for everyone, from beginners to experienced traders. The platform also provides educational resources to help users understand the cryptocurrency market better, making it more accessible to a wider audience.
Why Coinbase Left India
Coinbase first entered the Indian market in 2022 with great expectations. However, the company faced significant challenges in its operations. Payment services through the Unified Payments Interface (UPI) were halted, and regulatory hurdles made it difficult for the platform to continue. Informal pressure from the Reserve Bank of India added to the complications, eventually leading Coinbase to suspend its services in the country by September 2023. Many Indian users were left waiting for the platform’s return, as Coinbase had quickly gained popularity during its brief presence.
Coinbase Returns with Early Access
This year, Coinbase made a significant move by registering with India’s Financial Intelligence Unit (FIU), a step required to comply with anti-money laundering regulations. This registration marked a major milestone, paving the way for Coinbase to resume operations in India in a compliant manner. Recently, select Indian users received invitations to join Coinbase’s early access program. Those invited can now explore the platform, trade cryptocurrencies, and experience its features before the full-scale launch. The early access program also allows users to provide feedback, helping Coinbase refine its services and ensure a smooth experience for everyone.
Looking Ahead for Coinbase in India
Coinbase’s return comes as India shapes clearer regulations for cryptocurrencies. Other global platforms, including Binance and Bybit, have also resumed operations after registering with the FIU. With its focus on compliance and user security, Coinbase aims to compete with local platforms while providing Indian users with a safe and reliable way to trade digital assets. Early access will help the company adapt to local preferences, and as the full launch approaches, more users across India will get the chance to experience Coinbase’s services. This return marks a key step for Coinbase and highlights the growing maturity of India’s cryptocurrency market.