MarketsShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailCoinbase Targets India's $3 Billion Crypto Market with INR Launch
Coinbase introduces INR deposit and withdrawal options to improve accessibility for Indian retail traders.
By Omkar Godbole|Edited by Aoyon Ashraf May 31, 2026, 11:30 p.m. 3 min readMake preferred on John O'Loghlen, Coinbase’s Head of APAC. (Coinbase)Key Points:
- Coinbase is set to launch direct INR deposit and withdrawal options via IMPS on June 1, eliminating the need for intermediaries.
- This shift aims to reduce risks of fraud and streamline bank-to-crypto transfers for Indian users on a regulated platform.
- Alongside this, Coinbase will offer spot and perpetual futures trading, enhancing local INR liquidity while demonstrating a commitment to the market through FIU registration.
Coinbase, a publicly traded exchange on Nasdaq, announced a significant development on Monday: the introduction of direct deposit and withdrawal options for Indian rupees (INR).
Commencing June 1, 2026, users in India will be able to deposit and withdraw rupees directly from their bank accounts using the Immediate Payment Service (IMPS), a change aimed at removing the reliance on intermediaries and simplifying the process of entering the cryptocurrency market.
Historically, Indian users had to depend on Peer-to-Peer (P2P) markets or third-party services to fund their crypto accounts. This method often proved to be slow and fraught with risks, leaving users vulnerable to scams or sudden account freezes by authorities due to suspicious transactions. By connecting directly with IMPS, Coinbase seeks to eliminate these issues.
This new capability allows customers to easily transfer funds between their local bank accounts and the Coinbase platform.
“India has long been one of the most significant markets in crypto, in terms of developer talent, trading activity, and broader adoption of blockchain technology,” stated John O'Loghlen, Coinbase’s Head of APAC, in the announcement shared with CoinDesk.
In 2025, India was recognized as a leading country in the APAC region for crypto adoption, also topping the Global Crypto Adoption Index, according to data from Chainalysis. The Indian cryptocurrency market was valued at approximately $3.04 billion in 2025 and is anticipated to grow to around $14.21 billion by 2034, with a projected CAGR of 18.66% from 2026 to 2034, as reported by Imarc.
'Committed for the Long-Term'
This launch is not solely focused on novice traders. While retail traders will have access to spot markets for key assets, the platform will also roll out perpetual futures contracts.
For more advanced users, the "Coinbase Advanced" suite will provide institutional-grade tools, including TradingView integration and advanced APIs. By establishing local INR order books, Coinbase ensures that users are not trading against global prices but benefiting from dedicated liquidity in their own market.
The aim is to offer the same reliable platform used by global institutions to India's extensive retail base, according to Coinbase.
Regulatory challenges have always loomed large for crypto in India.
Coinbase first made its platform available to Indian users in 2022 but faced obstacles shortly thereafter when the UPI operator, National Payments Corporation of India (NPCI), denied any knowledge of Coinbase's initial UPI support launch, stating it was unaware of any agreement with a crypto exchange.
This time, Coinbase is proactively addressing regulatory issues by registering with the Financial Intelligence Unit (FIU-IND), the central agency responsible for monitoring and analyzing suspicious financial transactions.
The FIU registration indicates that Coinbase is aiming for a long-term foothold in India, which is the world's most populous country and fastest-growing major economy.
This latest initiative builds on years of foundational work. Coinbase has previously invested in the local exchange CoinDCX and has contributed over $1 million to Indian developers through its "Base" Layer 2 network.
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