Coinbase Puts Big Bets on India for Next 18-24 Months
US-listed cryptocurrency exchange Coinbase is prioritizing India as its top international growth market for the next 18-24 months. Despite high crypto taxes and regulatory uncertainty, the company sees potential in India's large population and growing number of crypto owners.
Coinbase halted services in India in 2023 but resumed trading last year after registering with the Financial Intelligence Unit (FIU) and bringing its operations onshore. The company has built a new platform that complies with Indian taxation, FIU, and other legal requirements.
The India strategy goes beyond spot crypto trading, with Coinbase planning to build an 'everything exchange' offering crypto, derivatives, equities, and tokenized assets under one roof. This includes perpetuals, options, derivatives, traditional equities, and tokenized equities, subject to local regulations.