Coinbase Launches Direct INR Deposit and Withdrawal Rails in India

As of June 1, 2026, Coinbase has commenced its full operations in India, allowing users to deposit and withdraw Indian rupees through the Immediate Payment Service (IMPS). The Nasdaq-listed platform now provides spot and derivatives trading, including perpetual futures, with local INR order books. This launch follows its registration with the Financial Intelligence Unit – India (FIU-IND), which requires compliance with AML and KYC regulations. This development contrasts with Coinbase's unsuccessful attempt to enter the market in 2022, which was thwarted by UPI operators, and its subsequent exit in 2023. The company is now utilizing non-UPI methods like IMPS and NEFT, with a possibility of returning to UPI if regulations change. According to Imarc, India's crypto market was valued at $3.04 billion in 2025 and is expected to reach $14.21 billion by 2034. Chainalysis named India the top country in its 2025 Global Crypto Adoption Index. John O'Loghlen, Coinbase's Head of APAC, highlighted India's significance in developer talent and trading volume. The platform features Coinbase Advanced with TradingView integration and professional APIs for institutional clients. Additionally, Coinbase has invested in Indian exchange CoinDCX and contributed over $1 million to Indian developers through its Base Layer 2 network. Nevertheless, India's 30% tax on digital asset profits and 1% TDS on transactions may hinder high-frequency trading, leading investors to favor long-term strategies.