Coinbase has quietly restarted user onboarding in India after being away for more than two years. The exchange, one of the biggest names in global crypto, paused its operations in the country after facing regulatory challenges and payment shutdowns. Today, it is back with a slower, more careful strategy. For now, Indian users can sign up and trade only between cryptocurrencies, but Coinbase says it is preparing a full fiat on-ramp by next year, which will allow deposits and purchases in Indian rupees.

This return marks a major shift. India is one of the largest crypto markets in the world by user count, and Coinbase knows it can’t afford to stay out forever. The company is now taking a more compliant approach, building quietly, and planning a stronger reentry that avoids the mistakes of its previous launch.

Why Coinbase Left India in the First Place

To understand why Coinbase’s comeback matters, it’s important to look at what went wrong in 2022. When Coinbase launched in India that year, it expected a smooth rollout supported by the country’s popular UPI payment method. However, only days after launch, the National Payments Corporation of India (NPCI) denied any partnership with Coinbase and refused to support UPI for crypto transactions.

This single announcement shut down Coinbase’s ability to receive deposits in rupees. Without a working payment method, Indian users could not add money, buy crypto, or use the platform effectively. The company tried to adjust, but the situation became increasingly difficult. Eventually, Coinbase halted all sign-ups, restricted trading, and then fully paused its India presence in 2023, asking users to close or move their accounts.

It was a messy exit, one that Coinbase did not want to repeat.

What Changed? India Has Become Too Important to Ignore

Even with strict tax rules and unclear policies, India has grown into one of the world’s most active crypto markets. Millions of young Indians trade crypto, invest in Web3 projects, and build blockchain applications. India also has one of the world's largest pools of crypto developers.

Despite uncertain regulations, the Indian crypto community never stopped growing. This made Coinbase realize something simple but powerful: India is not a market you walk away from. It is a long-term opportunity. A country where crypto adoption is high, interest is strong, and innovation is constant.

Coinbase’s return shows that the company wants to be part of this growth, not an outsider watching from a distance.

Coinbase Now Has Legal Registration in India

The biggest difference between now and 2022 is compliance. Coinbase is now officially registered with India’s Financial Intelligence Unit (FIU), which monitors anti-money laundering rules and other reporting standards. This registration is one of the most important steps required for any exchange to operate legally in India.

While this does not mean crypto is fully regulated or legalized in India, it means Coinbase is operating within the rules that exist today. This compliance status gives the exchange more stability, more trust, and a better foundation for future expansion.

It also signals to Indian regulators that Coinbase is willing to follow local laws instead of forcing a fast launch.

Crypto-to-Crypto Trading First, Rupee Deposits Later

Right now, Indian users can only use Coinbase for crypto-to-crypto trades. This is a cautious start, and it allows the exchange to operate without depending on banks or payment networks yet.

The bigger milestone will come next year when Coinbase plans to bring back rupee deposits through a full fiat on-ramp. If successful, Indian users will once again be able to:

• Add INR directly to their account

• Buy crypto easily

• Convert crypto back to INR

This will put Coinbase in direct competition with local platforms like CoinDCX, WazirX, and ZebPay.

For millions of Indian users, the return of seamless deposits could make Coinbase one of the preferred global crypto exchanges again.

Coinbase Is Investing More in India

Another strong sign of Coinbase’s long-term commitment to India is its growing investment in Indian crypto companies. Recently, the exchange increased its stake in CoinDCX, one of the country’s leading exchanges. This investment shows that Coinbase is not just trying to win Indian users—it is trying to become part of the Indian crypto ecosystem.

The company also employs a large engineering team in India and plans to expand that team as part of its global strategy. Coinbase views India as a major technical hub, not just a user base.

This combination of investment, hiring, and infrastructure building suggests that Coinbase’s return is not temporary; it is a long-term move.

A More Mature Approach After Learning Hard Lessons

Coinbase’s first attempt in India was fast and aggressive. It launched with confidence, partnered with local banks, and expected UPI support. When regulators pushed back, Coinbase was forced into a very public retreat.

This time, the tone is completely different. The company is quiet, careful, and compliant. It is building slowly, starting small, and only expanding when everything is legally and technically ready.

Instead of forcing rapid growth, Coinbase is taking the “one step at a time” approach.

That strategy may help it stay in India long enough to benefit from future regulatory clarity and mass adoption.

What Indian Users Should Expect Next

If Coinbase continues on this path, Indian users can expect gradual improvements in the coming months:

• More coins available for trading

• Better support inside the app

• Possible partnerships with local payment providers

• A full rupee deposit system by next year

• A more stable, well-regulated experience

While the Indian crypto environment is still strict, Coinbase’s return adds trust and competition to the space. For everyday users, that often means better services, smoother trading, and safer platforms.

Coinbase’s comeback is more than just reopening an app; it reflects confidence in India’s future in global crypto. The company believes the Indian market is too large and too influential to stay away from. With FIU registration, a cautious rollout, and plans for a full fiat on-ramp, Coinbase is positioning itself for long-term success in the country.

For Indian crypto users, this return could mark the beginning of a more open, competitive, and stable era for digital assets.