U.S.-headquartered cryptocurrency exchange Coinbase Global has registered with India's Financial Intelligence Unit (FIU), allowing it to offer crypto trading services in the country, the company said on Tuesday.
Coinbase said it plans to launch its initial retail services later this year and roll out additional investments and products thereafter, but did not disclose a specific timeline.
Coinbase's entry into India comes at a time when interest in the asset class has soared in the country, with many young Indians dabbling in crypto and flocking to trading academies in the hopes of supplement their regular incomes.
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