Coinbase Revives Indian Operations with Custom Rupee On-Ramp

After an initial setback in April 2022, when local payment-access rails collapsed just days after launch, forcing Coinbase to suspend retail trading, the global crypto giant is making a comeback in India with a completely overhauled playbook.

The company has achieved a major competitive breakthrough: a custom-built, bespoke Indian Rupee (INR) on-ramp and off-ramp that allows seamless top-ups and withdrawals in local currency.

Coinbase's Managing Director APAC, John O'Loghlen, explained that the company has invested heavily in India and has established a full-fledged team with local marketing, growth, legal, compliance, finance, and other functions.

The new entity is fully registered with India's Financial Intelligence Unit (FIU-IND) and compliant with local tax frameworks, setting a new benchmark for foreign Web3 companies navigating India's strict regulatory landscape to tap into the 100-million-user market.