Cryptocurrency Giant Coinbase Plans To Enter Indian Digital Space

A blog post shared by Coinbase CEO Brian Armstrong reveals the company’s plan to hire India’s software talent and help accelerate India’s economic goals. 

Coinbase Ventures’ Mission in India

Coinbase Ventures wishes to bask in the limelight of the semi-explored cryptocurrency landscape in India with plans to expand - hiring Indians, investing in startups, and working more on the adoption of more payment alternatives.

On April 8, the crypto exchange will be hosting an in-person pitch event in Bangalore with Buidlers Tribe and BeliefDAO. Brian Armstrong believes that regulations are a clear signal for investors and startups. 

“I believe crypto has a big future here. We’re excited to help build that future, and this event is an important step.”

How Is India Attracting Major Crypto Investors?

The American corporation’s plan to expand in India comes at a time when excitement and interest in cryptocurrencies and Web3 have been on the rise in India. The rising interest of investors in the Indian digital space is mainly attributed to the regulatory clarity brought forth by the Crypto Tax Law.

The cryptocurrency tax law in India has been effective since April 1 and all Indian citizens are required to complete the payment, which is 30 percent of the crypto gains as tax. Builders Tribe co-founder Pareen Lathia states, 

“Tax law is just one positive step. This is a paradigm shift and regulations will catch up.”

Lathia also believes that rising Indian entrepreneurs are excited to be making their firms stand on an international level. The latest development is sure to attract more players from the crypto industry to the budding Indian market.