Coinbase Expands Services to Mainland China Despite Ongoing Trading Restrictions

Coinbase has expanded its services to users in mainland China by allowing registration and verification using Chinese national identity cards and residential addresses. This change comes after a series of regional expansions as Coinbase builds an international customer base around crypto, derivatives, equities, and stablecoin payments.

The exchange recently launched direct Indian rupee deposits and withdrawals, giving users in India access to bank transfers through the country's Immediate Payment Service. Coinbase also secured UK authorization for derivatives and equities in July, extending its regulated product scope beyond spot crypto and existing fiat services.

Coinbase has not announced a reversal of China's restrictions on cryptocurrency trading or offshore exchange services, which remain in place since September 2021. The digital yuan entered a new phase in January when wallet balances began earning interest, but no Chinese regulator has authorized Coinbase to provide onshore crypto trading or renminbi payment services.