Coinbase is once again onboarding users in India, signaling a renewed commitment to the Indian cryptocurrency market. After a period of turbulence and discontinued services, the U.S.-based crypto exchange is gradually re-entering the country, with plans to introduce a fiat on-ramp in the coming year.

The move comes after Coinbase secured registration with the Financial Intelligence Unit (FIU) in March of this year. This registration is a critical step for crypto platforms to operate legally in India, as it requires compliance with anti-money laundering (AML) regulations. Many global players like Binance and Bybit have also resumed operations in India after registering with the FIU.

Coinbase initially entered the Indian market in April 2022 with ambitious plans. However, the exchange soon faced challenges, including the discontinuation of payments through the Unified Payments Interface (UPI) due to "soft pressure" from the Reserve Bank of India (RBI). Ultimately, Coinbase terminated all its services in India in September 2023.

Now, Coinbase is taking a more measured approach. The exchange has started granting early access to select users in India. According to social media posts, Coinbase communicated to these users, "We remember your early interest in Coinbase India, and we are thrilled to finally welcome you to our early access program". While Coinbase has not made an official announcement about the early access program, its website displays a message: "Namaste, India!…We're launching soon! Add your email and you'll be the first to know when you can join".

Looking ahead to 2026, Coinbase intends to launch a full fiat on-ramp with support for the Indian rupee. This is a crucial development for increasing accessibility for average users and retail traders, allowing them to seamlessly convert Indian rupees into cryptocurrencies and vice versa. The company is also focusing on building infrastructure to attract both large developers and new users. Initiatives include events, startup competitions, and investment funds from Coinbase Ventures focused on local talent.

Coinbase's re-entry into India occurs at a time when investor sentiment has been affected by crypto heists at other exchanges such as WazirX and CoinDCX. The FIU recently issued notices to 25 offshore crypto platforms for non-compliance with AML regulations, highlighting the importance of regulatory compliance in the Indian market.

The relaunch of Coinbase in India is not just a new chapter for the company but also an opportunity for tech founders from around the world to learn about global expansion, regulations, and community building in high-potential emerging markets. Successfully navigating complex environments like India requires a long-term vision and operational flexibility.