- Coinbase has enabled direct rupee deposits and withdrawals via India‘s IMPS payments network.
- This marks a renewed push in India after its troubled 2022 debut and follows its March 2025 registration with the Financial Intelligence Unit.
- The exchange is entering a strategically important market where India ranks first globally in grassroots crypto adoption.
In a significant move for its international expansion, Coinbase enabled direct rupee bank transfers for Indian customers this week, simplifying money movement between local banks and crypto markets. This strategic push deepens its presence in one of the world’s fastest-growing digital asset markets, as detailed in a Sunday blog post.
Indian users can now deposit and withdraw rupees via the Immediate Payment Service network. Consequently, they gain access to spot markets, perpetual futures, and the Coinbase Advanced Trade interface on a single platform.
This development follows the company’s registration with India’s Financial Intelligence Unit in March 2025. The registration provides a formal regulatory footing under the country’s Anti-Money-Laundering framework.
However, Coinbase‘s history in India includes a brief 2022 support for UPI-based deposits. The service was halted days after launch when payments authorities distanced themselves from crypto use of the network.
Coinbase is now wading into a crowded arena against domestic platforms like CoinDCX, CoinSwitch, ZebPay, and WazirX. Meanwhile, global rivals like Binance and KuCoin have largely relied on crypto-only or peer-to-peer rupee access.
The exchange has built local INR order books for concentrated domestic liquidity alongside global access. India remains a key prize despite policy headwinds, including a 30% tax on digital asset gains and a 1% transaction tax.
Data illustrates the scale of this market opportunity. Chainalysis ranked India first in its 2025 Global Crypto Adoption Index, ahead of 150 other countries.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
