Coinbase Reopens in India, Plans Rupee Deposits

Coinbase Reopens in India: A Strategic Move in the Worlds Largest Digital Asset MarketCoinbase has reopened user registrations in India, marking a significant step for the company in re-establishing itself in one of the worlds largest digital asset markets. Users can now sign up and trade crypto-to-crypto on the platform. The company plans to introduce a way for users to deposit Indian rupees directly into the app by 2026, allowing people to buy digital assets with their local currency. This move comes after Coinbase had to stop this feature shortly after its initial launch in 2022 and had previously withdrawn from India entirely in 2023. Despite Indias strict tax rules, which have significantly reduced trading volumes and made things difficult for exchanges, Coinbase is moving forward. They announced in mid-October that they would increase their investment in CoinDCX, Indias largest exchange, and plan to grow their Indian workforce, seeing the region as a gateway to broader activity across South Asia and the Middle East.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.