Coinbase has announced a significant enhancement to its services in India, enabling users to deposit and withdraw Indian rupees (INR) directly from their bank accounts starting June 1, 2026. This new feature utilizes the Immediate Payment Service (IMPS), streamlining the process for Indian retail traders and eliminating the need for third-party intermediaries.
Previously, Indian users faced challenges when funding their cryptocurrency accounts, often relying on Peer-to-Peer (P2P) platforms or intermediaries. These methods not only introduced delays but also posed risks, such as payment scams and sudden account freezes by authorities. By integrating directly with IMPS, Coinbase aims to simplify transactions and enhance security for its users.
John O’Loghlen, Coinbase’s Head of APAC, emphasized the significance of the Indian market in the cryptocurrency landscape. He noted, “India has long been one of the most important markets in crypto, in terms of developer talent, trading activity, and the broader adoption of blockchain technology.” Recent data from Chainalysis ranks India as a leader in crypto adoption within the Asia-Pacific region, reflecting a growing interest in digital currencies.
The Indian cryptocurrency market was valued at $3.04 billion in 2025 and is projected to reach $14.21 billion by 2034, growing at a compound annual growth rate (CAGR) of 18.66% during the period from 2026 to 2034, according to consulting firm Imarc.
Coinbase’s new offering is not limited to novice traders; it also introduces perpetual futures contracts for more experienced users. The platform’s “Coinbase Advanced” suite will provide institutional-grade tools, including TradingView integration and advanced APIs. By establishing local INR order books, Coinbase ensures that users can trade with dedicated liquidity rather than relying on global price fluctuations.
The exchange’s commitment to the Indian market is underscored by its registration with the Financial Intelligence Unit of India (FIU-IND), the agency responsible for monitoring suspicious financial transactions. This step signals Coinbase’s intention to navigate regulatory challenges and establish a lasting presence in India, which is recognized as the world’s most populous country and one of its fastest-growing major economies.
Coinbase initially entered the Indian market in 2022 but faced regulatory hurdles shortly after its launch. The National Payments Corporation of India (NPCI) had previously denied any arrangement with the exchange regarding UPI support, creating uncertainty around its operations. However, with the recent developments, Coinbase appears to be positioning itself more strategically within the regulatory framework.
In addition to its direct services, Coinbase has invested in local exchange CoinDCX and has contributed over $1 million to Indian developers through its “Base” Layer 2 network, further solidifying its commitment to the region.
O’Loghlen concluded, “With the launch of direct INR rails, we’re making Coinbase fully accessible to Indian retail traders, with the same platform trusted by institutions and traders around the world. We’re registered with FIU-IND and here for the long-term.”
Coinbase has launched direct INR transfers for Indian users, enhancing access to cryptocurrency trading. This move aims to streamline transactions and signals a long-term commitment to the Indian market amid regulatory challenges.