Coinbase Introduces Direct INR Deposit and Withdrawal Options

Coinbase Expands Services in India with INR Transactions

Coinbase has unveiled direct deposit and withdrawal options for Indian rupees (INR) through India's Immediate Payment Service (IMPS), enhancing the experience for local users. This development eliminates the need for intermediaries, thereby simplifying the onboarding process.

The exchange has established dedicated INR order books, allowing Indian users to trade directly in rupees without the necessity of converting to stablecoins or other currencies. Additionally, Coinbase is offering perpetual futures contracts on major cryptocurrencies, catering to Indian traders seeking leveraged trading opportunities, a move that could intensify competition with local platforms.

Coinbase is now operational in India with direct INR banking options.

We are making the future of finance more accessible than ever. pic.twitter.com/39yuijyibQ

— Coinbase 🛡️ (@coinbase) June 1, 2026

John O'Loghlen, the Regional Managing Director for APAC at Coinbase, asserted the company’s long-term commitment to the Indian market, noting substantial investments in the local ecosystem. Coinbase India Product Lead Akshay Chugh echoed this sentiment, emphasizing India’s significance to Coinbase and the gradual rollout of direct INR options.

This new banking infrastructure leverages Coinbase's registration with India's Financial Intelligence Unit, which monitors suspicious transactions and ensures compliance within the cryptocurrency space. This marks a notable advancement for foreign exchanges in India, particularly given the regulatory uncertainties that have historically complicated operations.

India continues to lead globally in cryptocurrency adoption, with a market valuation of $3.04 billion in 2025, projected to grow to $14.21 billion by 2034, reflecting a robust compound annual growth rate of 18.66%. This growth persists despite a 30% tax on crypto gains and a 1% tax deducted at source on transactions, among the highest tax rates worldwide.

Coinbase's current operations in India represent a significant turnaround from its initial launch in 2022, which faced challenges including the suspension of UPI payment support following regulatory pressures. After a two-year hiatus, Coinbase re-entered the Indian market in December 2025, having navigated regulatory hurdles and established partnerships with local exchanges like CoinDCX.