Coinbase to Re-Enter India’s Crypto Space With Retail Trading Services

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.

Ark Invest Buys 64,358 COIN Shares

While the COIN stock tanked a massive 17.58% on Monday, Cathie Wood’s Ark Invest chipped in to fill its bag with a massive 64,358 shares.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.