Cryptocurrency exchange Coinbase Global has registered with India's Financial Intelligence Unit (FIU), allowing it to offer cryptocurrency trading services in the country, the company announced Tuesday.
Coinbase intends to launch its initial retail services later this year, followed by additional investments and products, although a specific timeline was not disclosed.
Coinbase's expansion into India comes amid a surge of interest in cryptocurrencies, as many young Indians are exploring crypto investments and attending trading academies to boost their income.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
Other cryptocurrency platforms operating in India include CoinDCX, Binance and KuCoin.