The major American cryptocurrency exchange Coinbase is returning to India after a two-year absence from the market.
According to a report by TechCrunch, John O’Loghlen, the head of Coinbase's Asia-Pacific region, announced at the India Blockchain Week (IBW) that Coinbase has resumed application registrations in India and is preparing to launch local fiat deposits in 2026.
Coinbase's return to India comes more than two years after it halted local services in September 2023, following a rocky debut of its local exchange launched in 2022.
“We have millions of customers in India’s history, and we have taken a very clear stance to completely migrate these customers out of the overseas entities they belong to and are regulated by. Because we want to, in a sense, ‘cut ties’ and start from scratch here,” O’Loghlen said.
According to TechCrunch, as Coinbase resumes user onboarding in India, users can immediately execute crypto-to-crypto trades.
The exchange initially began user onboarding in October through a beta program, which coincided with its hiring of Karan Malik as the head of the Indian market.
Malik was previously responsible for marketing the IBW event last year, and this year Coinbase is the platinum sponsor of the event.
“Last year, I was responsible for leading and building the market and brand handbook for IBW. This year, I brought Coinbase to this event,” the executive said.
Recently, Coinbase has been actively working to repair its relationship with the Indian government. In early December, Katie Mitch, Coinbase's international policy advisor, represented the exchange at a meeting of the Indian Parliament's Standing Committee on Finance.
In a post on X last Thursday, she stated, “We are optimistic about the potential for forward-looking VDA regulation in India.”
Another development last week was that Karnataka's IT Minister Priyank Kharge signed a memorandum of understanding with Coinbase India to deepen the state's leadership in blockchain innovation and cybersecurity.
The minister stated that through this collaboration, the Karnataka government will work with the exchange on startup incubation around the Base protocol supported by Coinbase and accelerate the real-world application of blockchain technology.
As previously mentioned, Coinbase obtained a license from the Indian Financial Intelligence Unit in March 2025, laying the groundwork for its potential launch in the country. In August, Coinbase's Chief Legal Officer Paul Grewal also met with Karnataka's IT Minister Kharge to discuss collaboration in developer tools, cybersecurity, and governance in blockchain.
Cointelegraph reached out to Coinbase for comments regarding its relaunch in India but had not received a response by the time of publication.
Related: Ethereum's (ETH) first ZK-rollup, ZKsync Lite, will be retired in 2026
Original article: “Coinbase Cautiously Relaunches Plans to Return to India After Two Years”
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