Crypto exchange Coinbase is planning to re-enter India’s crypto space two years after it discontinued operations in early 2023. The crypto exchange has recently registered with the Indian regulator – Financial Intelligence Unit (FIU) – thereby gaining approval to offer crypto trading services in the country.
Coinbase eyes Big Opportunity in India’s Crypto Landscape
By the end of this year, 2025, global crypto exchange Coinbase will be introducing retail services and will introduce products with time. The decision to re-enter India’s crypto space comes as demand for digital assets has been rising significantly along with improved regulatory conditions.
As a result, Coinbase will compete with some of the existing players like Binance, KuCoin, and CoinDCX. Speaking on the development, John O’Loghlen, the firm’s regional managing director for Asia Pacific, told Reuters:
“India represents one of the most exciting market opportunities in the world today, and we’re proud to deepen our investment here in full compliance with local regulations”.
For cryptocurrency exchanges to operate in India, they must register with the FIU and comply with the country’s money-laundering rules. After the $235 million hack of crypto exchange WazirX last year, the entry of a big player like Coinbase will bring greater legitimacy to the space.
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The Story is Building further…..
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