Global cryptocurrency exchange Coinbase has relaunched its platform in India, enabling users to trade directly in Indian rupees (INR) through immediate payment service (IMPS). The move marks Coinbase's return after a two-year exit due to regulatory pressures, with the company now offering spot trading and perpetual futures contracts for major crypto assets to Indian customers, according to inc42.com.
Coinbase secured the necessary license from the Financial Intelligence Unit in March last year, allowing it to operate legally in India again. The platform has created local INR order books to provide dedicated liquidity for Indian users. John O’Loghlen, head of APAC at Coinbase, said the launch of direct INR rails makes the exchange fully accessible to Indian retail traders and also targets institutional investors with advanced tools and APIs, inc42.com reported.
India is one of the largest cryptocurrency markets globally, known for its developer talent and high trading activity. Coinbase’s re-entry follows a growing trend of exchanges formalizing operations amid tighter regulations. The company’s approach to offer both retail and institutional trading options aligns with broader market developments as crypto platforms seek to expand in regulated environments, inc42.com noted.
Coinbase’s relaunch in India includes spot trading and perpetual futures contracts, supported by direct INR deposits and withdrawals via IMPS. The company’s Financial Intelligence Unit license, obtained in March last year, legally enables its operations in the country, as per inc42.com.