Coinbase has registered with India’s Financial Intelligence Unit (FIU), enabling the company to offer crypto trading services in the country.

India represents one of the world’s most dynamic markets for crypto and onchain innovation, and this milestone reinforces Coinbase’s commitment to compliance and responsible growth in the region.

Coinbase plans to launch its initial retail services later this year, followed by additional investment and products in India thereafter.

“We’re committed to building in markets that believe in the potential of crypto and onchain innovation,” said John O’Loghlen, Regional Managing Director for APAC at Coinbase. “India represents one of the most exciting market opportunities in the world today, and we’re proud to deepen our investment here in full compliance with local regulations.”

India’s emergence as a global technology powerhouse, home to one of the most vibrant startup ecosystems, makes it a natural fit for Coinbase’s international expansion. The country has rapidly grown into an onchain development hub, with its share of global developers increasing from 3% in 2018 to 12% in 2023. Among emerging markets, India now boasts the highest concentration of talent in the onchain space.

“India’s developer community and entrepreneurial energy are unmatched,” said O’Loghlen. “But too often, young Indian entrepreneurs have felt forced to look abroad to build global companies. Crypto can change that. By expanding access to our trusted platform and tools such as Base, we aim to empower a new generation of builders to stay home, innovate locally, and scale globally.”

In addition to this regulatory milestone, Paul Grewal, Coinbase’s Chief Legal Officer, was recently appointed to the Board of the U.S.-India Business Council (USIBC), underscoring Coinbase’s commitment to fostering strong ties between the two economies. The USIBC plays a pivotal role in advancing the U.S.-India commercial relationship, and Coinbase looks forward to being an active participant in this dialogue.