Coinbase is facilitating direct deposits and withdrawals in rupees on its platform in India, becoming the only international crypto exchange offering this facility and giving it a major competitive edge over its biggest rival, Binance.The Nasdaq-listed S&P 500 crypto exchange, which re-entered India after securing registration with the Financial Intelligence Unit in December 2025, is targeting a major share of retail and institutional customers, enabling trade in more than 500 crypto assets.India ranked number one in Chainalysis global crypto adoption index, John O'Loghlen, head of Asia Pacific at Coinbase, told ET.
Therefore, Coinbase wants to play an early role in shaping the growth of the digital assets ecosystem here, he said.Coinbase Ventures has invested also in its two rival domestic crypto exchanges: CoinDCX and Coinswitch.“We think we can play an important role in that ecosystem, both through investments and through investments in other exchanges and running a two- or a three-horse race here,” Loghlen said.“In coming months and quarters, we'll be unlocking more products, bringing more promotions and campaigns to the market and yet trying to win that share from the existing industry.
But I think also growing the broader retail pool is something that's really exciting for us, whether it's with our organic launch or our inorganic investments,” he said.Coinbase is targeting both retail and institutional customers in India.
While the consumer business remains the company's....
