Coinbase Returns to India After 2-Year Exit With 2026 Fiat Plan

Coinbase returns to India with a clear plan to restart full services and regain its place in the market. The exchange has opened its app again for residents and set 2026 for the launch of its fiat gateway, which will allow users to deposit rupees and buy assets directly.

Coinbase Sets 2026 Target for Fiat Services

Coinbase reopened access for Indian users after completing its registration with the Financial Intelligence Unit. People can now sign up and trade crypto-to-crypto once again, a feature that had been unavailable since the company left in 2023. 

During India Blockchain Week, John O’Loghlen, the firm’s APAC director, confirmed that work on a rupee deposit system is underway. The planned gateway will let users move money in easily, giving them a smooth way to buy digital assets.

The exchange first tried to enter India in 2022 but ran into problems when the UPI operator refused to support its payment flow. That setback forced a pullback. In 2023, Coinbase removed all local customers from its overseas platforms. 

O’Loghlen said the move was very hard for the team because the company had “millions of customers in India” before the exit. The return began quietly in October through an early access programme, which signalled that the exchange was ready to rebuild its presence with a more stable foundation.

Tax Rules Remain a Major Issue for Coinbase

India’s strict tax system still weighs on trading activity. As reported earlier, a new crypto tax proposition became effective retrospectively from February 1, 2025.

Currently, the government charges a 30% tax on income from crypto and does not allow losses to be offset. On top of this, every transaction carries a 1% TDS. O’Loghlen admitted that such rules limit trading and reduce day-to-day activity. 

Still, he hopes that lawmakers may review the structure in the future as the industry grows. Coinbase has continued to invest in the country despite the tough climate. It holds a stake in CoinDCX, one of India’s largest exchanges. 

The investment helped push CoinDCX’s value to $2.45 billion. The company also employs more than 500 people in India across roles in engineering, compliance, and product development.

Building Trust in a Strong and Active Market

O’Loghlen said the company wants Coinbase to stand out as a trusted exchange for Indian users. He stressed the need for safety and clear processes as the firm rebuilds. 

India remains one of the world’s most active crypto markets. A recent report by TRM Labs placed the country at the top of global adoption for the third straight year. With demand rising and a clear plan in place, Coinbase hopes to secure a stable return to the fast-growing market.

Earlier this year, Paul Grewal, Coinbase’s Chief Legal Officer, shared the update on X, telling the crypto community that the FIU registration in India is an important step toward supporting the country’s local builders.