Coinbase launches direct deposit and withdrawal methods in Indian Rupees

Coinbase has Direct Banking Rails Launched INR in India that routes deposits and withdrawals through the country’s Instant Payment Service (IMPS), eliminating the need for peer-to-peer intermediaries and simplifying the setup process for local users.

The exchange has created dedicated INR order books that allow Indian users to trade directly in rupees without converting through stablecoins or other intermediary assets. Coinbase has also rolled out perpetual futures contracts covering major cryptocurrencies, offering Indian traders access to leveraged instruments that have driven increased trading volume on rival regional platforms.

The exchange is “here for the long term,” John O’Loughlin, Coinbase’s regional managing director for Asia Pacific, said in a statement, adding that the company has “invested meaningfully in the Indian ecosystem” in recent years.

In a tweet“All the pieces are coming together now,” noted Akshay Chugh, product lead for Coinbase India, adding that “India is one of the most important markets for Coinbase globally” and that live INR bars are “gradually rolling out to all users.”

Infrastructure upgrades benefit Coinbase registration With India’s Financial Intelligence Unit, the government agency that monitors suspicious transactions and oversees cryptocurrency compliance. The direct banking integration represents a technical milestone for international exchanges operating in India, where regulatory uncertainty has historically forced platforms to rely on workarounds.

India maintained its position as a global leader in cryptocurrency adoption for the third year in a row, ahead of the US, Pakistan, Vietnam and Brazil, according to a report. Chainalysis Global Cryptocurrency Adoption Index 2025. The Indian cryptocurrency market reached $3.04 billion in 2025 and is now It is expected to reach $14.21 billion By 2034, at a compound annual growth rate of 18.66%.

The market expansion comes though India A flat 30% tax on cryptocurrency gains A 1% tax is deducted at source on all transactions, which is among the highest cryptocurrency tax rates in the world.

Coinbase’s current infrastructure is a stark reflection of what it used to be Launching Turbulent India 2022when the exchange suspended UPI payment support within three days after the National Payments Corporation of India issued a public statement. CEO Brian Armstrong attributed the comment to ‘Informal pressure’ From the Reserve Bank of India, forcing Coinbase to work with it Crypto-to-crypto trades only.

The stock market has completely exited India before Returns in December 2025 With FIU registration. The two-year absence allowed Indian exchanges like CoinDCX and WazirX to dominate market share while Coinbase passed regulatory requirements and made investments in the local ecosystem, including in CoinDCX.