Startup Originals Team
After exiting India in 2023, U.S.-based cryptocurrency exchange Coinbase is making moves toward a comeback. The company has quietly launched an early access program for certain Indian users, signaling that a full-scale relaunch might be on the horizon.
A Phased Re-entry: Early Access for Some Users
Coinbase has started granting early access to a select batch of users in India. In communication shared by users on social media, Coinbase said:
“We remember your early interest in Coinbase India, and we are thrilled to finally welcome you to our early access program.”
On its website, Coinbase now displays a message to Indian visitors:
“Namaste, India! … We’re launching soon! Add your email and you’ll be the first to know when you can join.”
So far, though, Coinbase has not made any public announcements clarifying how the early access will expand or when full operations will resume. Inc42 reached out to Coinbase for more details, but no response has been made yet.
Background: Coinbase’s Exit & Registration with FIU
In March 2025, Coinbase registered with India’s Financial Intelligence Unit (FIU), a regulatory move required for platforms dealing with virtual digital assets in the country.
Previously, Coinbase had shut down all services in India in September 2023. The company initially entered the Indian market in April 2022, but quickly pulled back payment integrations such as UPI (Unified Payments Interface), citing regulatory “soft pressure” from the Reserve Bank of India (RBI). After suspending UPI support, users could still trade cryptocurrencies already held in their wallets via peer-to-peer (P2P) routes, but Coinbase eventually discontinued all operations.
The Regulatory Landscape & Market Timing:
Coinbase’s re-entry coincides with a broader trend: other global crypto platforms, including Binance and Bybit, have resumed operations in India after registering with the FIU. Some of these players even settled regulatory penalties to gain acceptance.
In recent months, the FIU has also intensified scrutiny: it issued notices to 25 offshore crypto platforms for failing to comply with anti-money laundering norms.
Moreover, Coinbase’s return comes amid renewed concerns around crypto security in India. High-profile incidents like hacks at WazirX and CoinDCX have dampened investor sentiment, making regulatory clarity and trust even more critical.
What to Watch: Key Questions Ahead
- How broad will the early access rollout be? Will Coinbase allow a small pilot group first, or open it up fast?
- Which features will return first? Trading, crypto wallets, payments, or fiat-on/off ramps?
- What will the regulatory and compliance framework look like? Coinbase must navigate India’s evolving rules on virtual assets and anti-money laundering.
- Will user trust recover? Given past exits and crypto scams, Coinbase will need to reassure Indian users.
