Coinbase launched its exchange in India

Coinbase launched its exchange in India

The exchange’s official Twitter feed included the message “Chalo shuru karein!”, or “Well, let’s get started!” in Hindi. There was an official presentation at the technology hub in the Indian state of Bangalore.

Chalo shuru karein!

That’s how you say “Come, let’s get started!” in Hindi and that’s our guiding light as we work to serve and grow the crypto and web3 community in India.

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The US exchange’s mobile app is now available to Indian users. Coinbase Chief Product Officer Surojit Chatterjee demonstrated in a live presentation how local users sign up. Registering requires a customer to be connected to the local UPI payment system, a digital instant payment system backed by India’s central bank.

Coinbase CEO Brian Armstrong has been in India for a few weeks now. He said there is still a lot of work to be done with regulators, especially against the backdrop of new regulations to tax cryptocurrency transactions in the country:

“We know it’s not going to be easy to ensure the adoption of new technology. We don’t have an exact idea of how the regulation will evolve. But we will work with banks, regulators, and most importantly, the Indian people because they have shown a real interest in cryptocurrencies and a desire for access to new services and products”.

Earlier it was reported that Coinbase plans to increase the staff of its Indian division by 1,000 people as early as this year.

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Written by Renat
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