Coinbase Expands India Crypto Services With Direct INR Deposits and Withdrawals

Global cryptocurrency exchange Coinbase has launched direct Indian rupee (INR) deposit and withdrawal services in India through the Immediate Payment Service (IMPS) network, marking one of its biggest moves in the country since re-entering the market. The update allows Indian users to transfer funds directly between their bank accounts and Coinbase without relying on peer-to-peer (P2P) transactions or third-party intermediaries.

The new banking rails went live on June 1, 2026, and are expected to simplify crypto trading for Indian investors who have long faced challenges when moving money to and from international exchanges. Alongside the INR integration, Coinbase has also introduced spot trading, perpetual futures trading, and dedicated INR order books for local customers.

Direct INR Support Eliminates Reliance on P2P Funding

For several years, many Indian crypto traders used P2P transfers to fund accounts on global exchanges. While functional, these methods often exposed users to payment disputes, scams, delayed settlements, and even temporary bank account freezes linked to suspicious counterparties.

With IMPS integration, Coinbase users can now deposit and withdraw rupees directly from verified bank accounts. The system provides near-instant settlements and removes the need for external payment processors, making crypto onboarding significantly smoother for retail traders.

The company has also enabled bank account linking and local liquidity infrastructure, creating a more seamless trading experience for users entering and exiting digital asset positions.

India Remains a Strategic Market for Coinbase

The launch highlights Coinbase’s renewed commitment to India after its earlier challenges in the market. The exchange initially entered India in 2022 with Unified Payments Interface (UPI) support, but the service was suspended shortly after regulatory complications emerged.

Since then, Coinbase has strengthened its compliance framework by registering with India’s Financial Intelligence Unit (FIU-IND), allowing it to operate under the country’s anti-money laundering requirements. The company has repeatedly described India as one of the world’s most important crypto markets due to its large developer ecosystem, growing blockchain adoption, and strong retail trading activity.

John O’Loghlen, Coinbase’s Asia-Pacific leadership representative, emphasized the strategic importance of India as the exchange seeks to expand across key Asian markets.

Coinbase Introduces Spot Trading and Perpetual Futures

Beyond fiat banking access, Coinbase is rolling out a broader product suite for Indian traders. Customers can now access spot markets across multiple cryptocurrencies, while eligible users can also trade perpetual futures tied to major digital assets.

The company has built dedicated INR order books that provide local liquidity while maintaining access to Coinbase’s broader global trading infrastructure. This setup could help reduce slippage and improve pricing efficiency for Indian traders.

Advanced users will also gain access to professional trading tools, including advanced order types, enhanced charting features, and institutional-grade market data.

What Coinbase’s India Expansion Means for the Crypto Industry

Coinbase’s introduction of direct INR rails arrives at a time when competition among crypto exchanges in India is intensifying. The move positions the U.S.-based exchange against established domestic platforms while providing Indian traders with a regulated alternative for fiat-to-crypto transactions.

Despite India’s strict tax regime, including a 30% tax on crypto gains and a 1% tax deducted at source (TDS), the country continues to rank among the world’s most active digital asset markets. Coinbase’s latest expansion signals growing confidence in India’s long-term crypto potential and could encourage greater participation from both retail and professional investors.