Coinbase sets foot in India: Ignores RBI banking support ban

  • Coinbase is now in 53 countries around the world.
  • The expansion will see Coinbase trading platforms accessed by users in the new countries.
  • The expansion to India comes at a time when the ban on banking support for cryptocurrency related businesses is yet to be lifted.

The leading cryptocurrency exchange company in the United States, Coinbase has announced that it is expanding its business to eleven more countries including India. The announcement was made in a blog post published on April 17. The expansion will see Coinbase trading platforms accessed by users in the new countries. Following the expansion, Coinbase now has a presence in 53 regions across the world.

Among the countries, the exchange is expanding to is New Zealand, India, South Korea, Mexico, and Hong Kong. The traders in these countries will utilize Coinbase Pro as well as Coinbase.com platforms. In addition to that, customers will have access to Coinbase mobile applications too.

Initially, Coinbase has been operating in 32 countries. The exchange said last year that it was going to grow its services to include more countries and regions. According to the blog post-Coinbase says:

“Realizing our mission of creating an open financial system for the world starts with making it as easy as possible to access crypto. With today’s announcement, we’re happy to take an important step in that direction.”

The expansion to India comes at a time when the ban on banking support for cryptocurrency related business is yet to be lifted. The ban has led to several exchanges shutting down operations in India including Zebpay.

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