Yahoo Finance
Coinbase has launched direct INR deposits and withdrawals in India, allowing users to move funds between bank accounts and the exchange via IMPS.
The rollout follows Coinbase’s registration with FIU-IND, bringing the platform into compliance with India’s regulations for virtual digital asset service providers.
Indian users can now access spot trading and perpetual futures, expanding Coinbase’s local offering beyond crypto-to-crypto transactions.
Coinbase has officially expanded its presence in India by enabling directdeposits and withdrawals in Indian rupees (INR), marking a significant milestone in the exchange’s long-term efforts to establish itself in one of the world’s fastest-growing cryptocurrency markets.
The move allows Indian customers to transfer funds directly between their bank accounts and Coinbase through the Immediate Payment Service (IMPS), eliminating the need for peer-to-peer (P2P) workarounds or third-party intermediaries.
The launch comes after Coinbase secured registration withIndia’s Financial Intelligence Unit (FIU-IND), ensuring compliance with the country’s regulatory framework for virtual digital asset service providers.
In addition to directINRsupport, Coinbase is introducing spot trading, perpetual futures, and professional trading tools for Indian users, underscoring its commitment to expanding crypto access in the country despite a challenging regulatory and tax environment.
Coinbase described India as one of the most important markets for cryptocurrency innovation, citing the country’s growing developer ecosystem, trading activity, and blockchain adoption.
The company has steadily increased its investments in India over the past several years.
Coinbase is an investor inCoinDCX, one of India’s largest cryptocurrency exchanges, and has supported the local blockchain ecosystem through grants, hackathons, and educational initiatives linked to Base, its Ethereum Layer-2 network.
According to Coinbase, more than 4,000 Indian developers have built projects on Base, with roughly 150 of those projects evolving into startups.
The company has also sponsored Indian founders and students through international programs and startup demo days in cities such as New York and San Francisco.
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