Cryptocurrency exchange Coinbase has launched direct deposit and withdrawal rails for the Indian Rupee (INR), continuing its push into India.
Coinbase Users In India Can Now Make Direct INR NetflowsIndian users can now use the platform’s fiat rails to deposit and withdraw INR without having to go through intermediaries like peer-to-peer (P2P) trading, as is the norm for some other international exchanges with a presence in the country. For facilitating the transactions, the exchange is making use of the Immediate Payment Service (IMPS), a popular interbank fund transfer system in India.
Coinbase noted:
Customers have access to spot trading across a range of assets, alongside perpetual futures contracts covering major crypto assets. We have built local INR order books that provide dedicated liquidity for Indian customers, with continued access to our global exchange.
The current Indian push is not the first time that the exchange has taken a crack at the subcontinent. Back in 2022, the platform made its initial entrance into the country, but soon after launch, it was forced to suspend access to Unified Payments Interface (UPI) transactions, leaving users with no way to participate in trading on the platform with the INR. The next year, Coinbase completely discontinued its services in India.
In 2025, however, the platform once again made a return to the market, this time with approval from India’s Financial Intelligence Unit (FIU). “For Indian customers, our FIU-IND registration means we operate under the compliance framework established for virtual digital asset service providers in India,” said Coinbase.
The exchange saw a full relaunch in India in December, but it still lacked a fiat on-ramp, something that most retail traders rely on. With this new expansion, it has also finally changed.
At the time of writing, Bitcoin is floating around $72,600, down more than 6% over the past week.
