Coinbase Plans to Return to India

Global crypto exchange Coinbase is gearing up to make another attempt to enter the Indian market, more than a year after having to cease operations in the country.

The exchange is currently in talks with Indian regulators, including the Financial Intelligence Unit, to obtain the necessary approvals for a relaunch, according to a source familiar with the matter.

Coinbase plans to relaunch its centralized exchange platform, which it had previously introduced in India, aiming to compete with local players like CoinDCX and CoinSwitch.

“This time, they intend to do the same thing but with local partners involved and a clearer strategy, which was lacking in their previous attempt,” the source explained.