Coinbase Resumes Operations in India, Plans Fiat Launch by 2026
- Coinbase has reopened its app for Indian users, allowing crypto-to-crypto trading.
- A new fiat gateway is set to launch in 2026, enabling users to deposit rupees and purchase assets directly.
- In a previous attempt to enter the market in 2022, Coinbase exited after facing transaction support issues with UPI.
- The Indian government imposes a 30% tax on crypto income and a 1% TDS on transactions, which may hinder trading activity.
- Coinbase has invested in CoinDCX, increasing its valuation to $2.45 billion.
- The exchange plans to expand its local workforce beyond 500 employees across various roles.
Following a two-year exit from India due to regulatory challenges, Coinbase aims to establish itself as a trusted exchange while navigating the complex tax landscape that currently discourages active trading.
With plans for a fiat launch by 2026, Coinbase is positioning itself strategically in India’s growing cryptocurrency market amidst significant regulatory hurdles. (Source)
