Image Credit: Coinbase
Coinbase has launched direct Indian rupee deposits and withdrawals for customers in India, giving users a bank-linked route into crypto trading through the country’s Immediate Payment Service.
The rollout began on June 1 and lets customers move INR to and from Coinbase without relying on peer-to-peer transfers or third-party intermediaries.
June 1 Rollout Adds IMPS Rupee Transfers
The new payment setup connects Coinbase accounts to IMPS, India’s real-time bank transfer system. Coinbase said verified Indian users can now deposit and withdraw rupees directly from linked bank accounts.
The change gives customers a simpler path between local bank balances and crypto trading. The launch also removes one of the main friction points for international exchanges in India, where reliable fiat access has often been difficult.
Spot Trading and Perpetuals Launch With INR Rails
Coinbase said Indian users now have access to spot trading across a range of crypto assets. The company also said it is offering perpetual futures tied to major cryptocurrencies.
Local INR order books have been added for Indian customers while access to Coinbase’s global exchange platform remains available. That means rupee funding, trading and withdrawals can now happen inside the same Coinbase flow.
FIU Registration Supports Return Despite 30% Tax
The rollout deepens Coinbase’s return to India after the exchange resumed crypto trading in the country last year. Coinbase said it is registered with India’s Financial Intelligence Unit and compliant with local laws.
India requires crypto exchanges to follow anti-money laundering rules, while crypto trading gains remain subject to a 30% tax. The country still has no full regulatory framework for crypto, leaving compliance status and payment access central to exchange operations.
Coinbase Targets India’s Crypto User Base
John O’Loghlen, Coinbase’s regional managing director for Asia Pacific, said India remains one of crypto’s most important markets because of its developer base, trading activity and blockchain adoption.
The immediate change for users is direct access to INR deposits and withdrawals. Coinbase’s next measure of progress will be whether those rails turn India’s market interest into steadier trading activity on the platform.
