Coinbase’s Strategic Re-entry into India: INR On-Ramp and $BASE Token Speculation Signal Major Market Shift

In a bold strategic reversal, Coinbase has quietly resumed operations in India after a two-year absence, marking a significant development in the global cryptocurrency landscape. The U.S.-based exchange reopened registrations this week and confirmed ambitious plans to launch INR-to-crypto fiat services by 2026—a move that could fundamentally reshape liquidity access for India's burgeoning Web3 trading community. This comeback follows a disastrous 2022 attempt that was derailed by payment rail conflicts with India's National Payments Corporation (NPCI), highlighting both the challenges and immense potential of the Indian market. The timing of this re-entry is particularly noteworthy given India's complex regulatory environment and the government's mixed signals toward cryptocurrency adoption. What makes this development especially intriguing is the simultaneous speculation surrounding Coinbase's potential $BASE token—a move that could create a powerful synergy between fiat on-ramps and native token ecosystems. As of December 2025, India represents one of the world's largest untapped cryptocurrency markets, with a massive tech-savvy population and increasing institutional interest in blockchain technology. Coinbase's planned INR services could dramatically lower barriers to entry for millions of Indian traders who currently navigate cumbersome P2P markets and offshore exchanges. The exchange's persistence in returning to India despite previous setbacks demonstrates a long-term commitment to emerging markets and suggests confidence in evolving regulatory frameworks. This development also positions Coinbase to capitalize on India's rapidly growing Web3 developer ecosystem and increasing institutional adoption of blockchain solutions. The potential combination of seamless fiat onboarding with possible token incentives through $BASE could create a powerful flywheel effect, accelerating cryptocurrency adoption across South Asia. As traditional finance and decentralized systems continue to converge, Coinbase's strategic pivot toward India may well become a case study in how global exchanges can successfully navigate complex regulatory landscapes while capturing massive growth opportunities in emerging economies.

Coinbase Re-enters India Market with INR On-Ramp Plans and $BASE Token Speculation

Coinbase has quietly resumed operations in India after a two-year absence, marking a strategic reversal for the U.S.-based exchange. The platform reopened registrations this week and confirmed plans to launch INR-to-crypto fiat services by 2026—a MOVE that could reshape liquidity access for India's Web3 traders.

The comeback follows a disastrous 2022 attempt derailed by payment rail conflicts. India's National Payments Corporation abruptly withdrew UPI support shortly after launch, forcing Coinbase to suspend local deposits. APAC Director John O'Loghlen characterized the retreat as necessary for a 'clean start,' despite sacrificing millions of potential users.

Market observers note the timing coincides with Coinbase's broader international expansion and rumored $BASE token plans. The exchange has already enabled crypto-to-crypto trading, with industry sources suggesting the eventual INR ramp could capture first-mover advantage ahead of Binance and other rivals still navigating regulatory hurdles.

Coinbase Ventures’ 2026 Crypto Outlook: RWA Perpetuals, AI Innovation, and DeFi Breakthroughs

Blockchain technology has advanced rapidly over the past year, pushing the cryptocurrency frontier to new heights. Developers have built more efficient payment networks and cross-chain verification methods, while prediction market adoption continues to grow. The industry now enjoys deeper liquidity, broader interoperability, and greater privacy than at the start of the year.

Coinbase Ventures believes these on-chain breakthroughs have laid the groundwork for a 'builder’s market' ecosystem in 2026. Despite ongoing market volatility, the company’s VC arm remains bullish on next-gen crypto infrastructure.

One emerging theme is the shift from traditional real-world asset tokenization to RWA perpetual contracts. These on-chain products allow traders to access synthetic exposure and are easier to launch than conventional tokenized assets. RWA perpetuals can cover virtually anything: private companies, commodities, and even macro market data. Platforms supporting these contracts enable traders to respond to global events in real time and institutions to hedge positions across multiple asset classes.

Kinji Steimetz, a Coinbase Ventures Associate, noted that RWA perpetuals could evolve along two vectors: bringing exotic asset exposure on-chain and expanding synthetic market accessibility.

Pye Finance Secures $5M to Transform Solana Staking Markets

Venture capital heavyweights including Variant, Coinbase Ventures, and Gemini have invested $5 million in Pye Finance's seed round. The Solana-based protocol aims to convert locked SOL stakes into an active yield market, targeting the network's $60 billion staked value.

Pye's novel approach creates transferable, time-locked staking positions with transparent reward sharing. The platform serves both validators and stakers across Solana's decentralized network of over 1,000 validators.

'Stake Trading unlocks new possibilities for both stakers and validators which is much needed,' said Brian Long, CEO of Pye Finance. The protocol enables validators to offer differentiated yields based on lockup periods while providing stakers with new DeFi applications including lending and fixed-yield products.

Alana Levin, an investor participating in the round, noted the potential to 'fundamentally change how staking operates on Solana' through better alignment of validator and staker incentives.

BlackRock Files for Staked Ethereum ETF, Expanding Crypto Offerings

BlackRock is deepening its commitment to digital assets with a filing for the iShares Staked ethereum Trust ETF, marking its first U.S. product designed to provide institutional investors with direct exposure to staking rewards. The move builds on the firm's existing Ethereum fund, which now boasts over $11 billion in assets under management.

The proposed ETF aims to track ETH's price performance while generating additional yield through staking a portion of its holdings. According to the December 5 preliminary prospectus, staking rewards WOULD accrue to the fund's net asset value, though regulatory and operational risks could affect distributions.

Coinbase Custody Trust Company is slated to serve as the primary ETH custodian, with BNY Mellon handling cash custody and administration. This multi-custodian structure underscores the institutional-grade infrastructure being deployed to support crypto investment vehicles.