According to reports from The Economic Times, Coinbase is executing a carefully orchestrated comeback to India after its initial 2022 launch faced immediate payment-access problems that forced retail trading suspension. The global crypto giant is now operating under a fresh local entity fully registered with India's Financial Intelligence Unit (FIU-IND) and compliant with local tax frameworks. As reported by The Economic Times, the company has offboarded all historical customers and started with a new entity called Coinbase India, with full boots on the ground including local marketing, growth, legal and compliance functions.
As reported by The Economic Times, Coinbase has achieved a major competitive breakthrough with custom-built, bespoke Indian Rupee (INR) on-ramp and off-ramp technology. This direct integration with Indian banking rails allows seamless top-ups and withdrawals in local currency, unlike international platforms that historically forced Indian users onto complex peer-to-peer networks or restricted them to crypto-only transfers. According to The Economic Times, no other non-Indian exchange currently offers that unique fiat offering, making Coinbase the only international exchange with fully compliant, direct INR rails. The platform's fiat conversion capabilities are now operational, with 1 AED currently worth PKR 75.46, demonstrating the practical implementation of their rupee integration.
According to The Economic Times, India's crypto market is estimated at 100 million active users, with the number-one player CoinDCX publicly reporting more than 20 million customers. The report indicates that grassroots crypto adoption in India is number one globally, with some estimates showing 119-120 million users and potential to quadruple in the next decade. As reported by The Economic Times, 41% of investors identify as long-term buy-and-hold investors, while 49% keep crypto exposure below 10% of their portfolio, with women showing stronger preference at 46% versus 40% of men.
According to The Economic Times, Coinbase has invested in other exchanges in India and considers it a priority market with thorough commitment. The company is working with the Indian Web3 Association and tax authorities to address the burdensome tax rate that currently affects the market. As reported by The Economic Times, Coinbase expects India to become a material contributor to its APAC business within 18-24 months, with growth initially targeting existing traders and professional investors before a mass-market approach.
