Coinbase is gearing up for a second attempt at entering the Indian cryptocurrency market after a brief and unsuccessful launch in 2022. The US-based exchange is reportedly in talks with local partners to integrate UPI (Unified Payments Interface) functionality into its platform.
Their previous attempt to offer UPI-based crypto transactions was quickly halted by the National Payments Corporation of India (NPCI), which declared the service “unrecognised.” This led to Coinbase suspending the feature shortly after its initial rollout.
Now, nearly two years later, Coinbase aims to overcome past hurdles and establish a foothold in the rapidly growing Indian crypto landscape. The success of this renewed effort hinges on securing the necessary approvals and establishing a stable and compliant payment infrastructure using UPI.
