Top US-based crypto exchange Coinbase has received approval from India’s Financial Intelligence Unit (FIU) to resume operations in the country after ceasing activities in early 2023 due to regulatory issues.
According to a Coinbase press release, the approval enables the leading US exchange to offer crypto trading services in one of the world’s fastest-growing digital asset markets – India.
Coinbase has announced plans to introduce retail trading services in the country later this year, followed by additional investment products curated for Indian customers.
Says John O’Loghlen, Coinbase’s Regional Managing Director for Asia-Pacific,
“India’s developer community and entrepreneurial energy are unmatched. But too often, young Indian entrepreneurs have felt forced to look abroad to build global companies. Crypto can change that. By expanding access to our trusted platform and tools such as Base, we aim to empower a new generation of builders to stay home, innovate locally, and scale globally.”
The exchange says that India is a “global technology powerhouse home to one of the most vibrant startup ecosystems,” making it a natural fit for Coinbase’s international expansion.
Coinbase joins other global exchanges, including Binance and KuCoin, that have recently received similar approvals.
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