Coinbase News: Returns to India After Receiving Approval from Financial Intelligence Unit

Coinbase, one of the leading cryptocurrency exchanges globally, has made a significant breakthrough in its international expansion strategy by receiving approval from India’s Financial Intelligence Unit (FIU). This approval paves the way for Coinbase to offer its cryptocurrency trading services in India once again, nearly two years after it exited the region due to regulatory issues.

Coinbase Registers with India’s FIU, Cleared to Offer Crypto Trading Services

Cryptocurrency exchange Coinbase has received approval to offer crypto trading in India after leaving the region nearly two years ago due to regulatory issues. The exchange announced its registration with India’s Financial Intelligence Unit (FIU), marking a significant milestone in its international expansion strategy and enabling it to offer cryptocurrency trading services in the country.

Franklin Templeton Files Preliminary Application for XRP ETF

Investment giant Franklin Templeton has filed for a Franklin XRP ETF, aiming to track the spot price of XRP minus fees. Assets will be held via Coinbase Custody, and shares will trade on the Cboe BZX Exchange. Authorized participants will create/redeem shares in blocks using cash converted to XRP via a third-party. Shareholders won’t benefit from XRP Ledger forks or airdrops. The SEC has up to 240 days to approve or deny the filing, potentially late 2025. Franklin joins Bitwise, 21Shares, and others in the XRP ETF race, betting on a crypto-friendly shift. XRP is up 4.2% in the past 24 hours.