Global crypto exchange Coinbase has registered with India’s Financial Intelligence Unit (FIU) as part of its international expansion strategy, starting with crypto trading services in country later this year.
This comes at a time when the crypto sector is getting heated up with the US President Donald Trump’s pro-crypto policies. Coinbase follows the footsteps of rivals Binance and KuCoin by entering India, which is seen as a prominent market for the sector.Coinbase will launch its initial retail services later this year, followed by additional investments and expansion of products, the exchange said in a blog post on March 11.
“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.
He added, “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.”According to the blogpost, 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.”#CoinbaseExchange.