Coinbase Expands India Push With Direct INR Banking Rails and Futures Trading
Coinbase has unveiled a major upgrade to its services in India by enabling direct Indian rupee (INR) deposits and withdrawals through the country’s Immediate Payment Service (IMPS), removing the need for peer-to-peer payment workarounds that many users previously relied on.
The new banking integration allows customers to move funds between their bank accounts and Coinbase more efficiently, creating a smoother onboarding experience for retail and professional traders alike. In addition, the exchange has launched dedicated INR trading pairs, allowing users to buy and sell cryptocurrencies directly in rupees without first converting funds into stablecoins or other intermediary assets.
Alongside the payment enhancements, Coinbase has introduced perpetual futures products tied to leading digital assets, giving Indian traders access to leveraged crypto markets that have become increasingly popular across global exchanges.
Company executives described the rollout as a long-term commitment to India, emphasizing that the exchange has continued investing in the local crypto ecosystem despite past regulatory challenges. Coinbase representatives noted that the new INR infrastructure is being rolled out gradually and reflects the growing importance of the Indian market within the company’s global strategy.
The expansion is supported by Coinbase’s registration with India’s Financial Intelligence Unit (FIU), which oversees anti-money laundering compliance and monitors financial transactions. The regulatory approval has enabled the company to build a more direct and compliant connection to the country’s banking system.
India remains one of the most significant cryptocurrency markets worldwide. Despite strict taxation policies, including a 30% tax on crypto profits and a 1% tax deducted at source on transactions, the country continues to lead global crypto adoption rankings. Industry projections suggest substantial growth in the coming years as digital asset participation expands among both retail and institutional investors.
The latest launch marks a notable turnaround for Coinbase, which faced setbacks during its initial India debut in 2022 when support for the Unified Payments Interface (UPI) was suspended shortly after launch. Following a period of limited operations and eventual withdrawal from the market, the company returned after securing regulatory registration and has since worked to rebuild its presence.
With direct banking access, local currency trading, and derivatives products now available, Coinbase is positioning itself to compete more aggressively against established domestic exchanges while seeking a larger share of India's rapidly expanding crypto sector.