Regulatory Pressure Forces Coinbase To Suspend Crypto Payments In India
On Sunday, three days after adding support for the popular Unified Payments Interface payment instrument in India, Coinbase – the largest US-based cryptocurrency exchange – removed the feature to purchase bitcoin using the system in India. UPI is an instant real-time payment system designed by India’s National Payment Corporation to enable interbank transactions via mobile phone on Coinbase’s […]
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Cryptocurrency exchange Coinbase has announced that it is launching full-scale crypto trading in India with Unified Payments Interface (UPI) support. However, moments later, the National Payments Corporation of India (NPCI), which developed UPI, stated that no crypto exchange is using the UPI system. Coinbase Launches in India, Hit With UPI Problem The Nasdaq-listed cryptocurrency exchange Coinbase announced Thursday at an event in Bengaluru that its trading platform will be fully available for retail traders in India. The company said that customers will be able to buy cryptocurrencies....
The Nasdaq-listed cryptocurrency exchange Coinbase has revealed that it halted operation in India a few days after launch due to “informal pressure” from the country’s central bank, the Reserve Bank of India (RBI), says CEO Brian Armstrong. Coinbase Shares Experience in India Coinbase Global provided an update on its Indian operation during the company’s earnings call Tuesday, particularly why it exited the Indian crypto market a few days after launch. Anil Gupta, vice president of Investors Relations at Coinbase, asked CEO Brian Armstrong: “Some....
Coinbase is focusing on growing the crypto and Web3 ecosystem in India. “Combined with India’s world-class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals,” said CEO Brian Armstrong.
Coinbase Expanding in India With Web3 and Crypto Push
The Nasdaq-listed cryptocurrency exchange Coinbase revealed its plan for India Monday. “India has built a robust identity and digital payments infrastructure and implemented it at rapid scale and speed,” CEO Brian Armstrong....
America’s largest exchange suspended some payment services on its newly launched Indian exchange due to pressure from the local payment regulators. The largest US-based crypto exchange Coinbase has stopped payment services through United Payments Interface (UPI) on its platform for Indian users just three days after its launch in the South Asian subcontinent.The UPI is the payment portal governed by the National Payment Corporation of India (NPCI), which facilitates buy orders on Coinbase’s India services. The exchange has already updated its payment method information on its website for....
Cryptocurrency exchange operator Coinbase has announced that it is establishing a business presence in India. The company has also posted several job openings for its Indian operations despite reports that the government may ban cryptocurrencies. Coinbase Sets up Shop in India Coinbase has officially announced its expansion into India. The company said last week: We’re happy to announce that Coinbase is establishing a business presence in India. By housing some IT services, including engineering, software development and customer support operations in India, we will benefit from its....