Coinbase all set to enter Indian crypto market

US-based Coinbase Global has secured registration with India’s Financial Intelligence Unit (FIU), paving the way for its crypto trading services in the country. 

The exchange announced plans to launch its initial retail platform later this year, marking its entry into a market where digital assets are rapidly gaining popularity.

The development comes as interest in cryptocurrencies surges among India’s young population. 

Established players already hold significant market shares in the country—CoinDCX reportedly serves around 4 million users, Binance is estimated to have approximately 5 million active users, and KuCoin claims an estimated 2 million users. 

In contrast, Coinbase is just beginning its foray into India and has yet to build a local user base.

Operating in India requires crypto exchanges to register with the FIU and comply with stringent anti-money laundering regulations. 

Despite a 30 per cent tax on crypto trading gains—among the highest globally—the market remains vibrant, fuelled by a growing appetite for alternative income sources and increased participation in trading academies.

"India represents one of the most exciting market opportunities in the world today," said John O’Loghlen, Coinbase's regional managing director for Asia Pacific. 

The company intends to roll out additional investment products and services after its initial launch, as it deepens its commitment to the region under full compliance with local regulations.

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