Coinbase launched direct Indian rupee (INR) deposits and withdrawals in India starting June 1, enabling users to transfer funds through IMPS, trade cryptocurrencies, and withdraw INR to bank accounts without peer-to-peer workarounds. The launch follows Coinbase's registration with India's Financial Intelligence Unit (FIU-IND) in 2025 after the exchange paused services in 2022 due to regulatory obstacles. India remains one of the world's fastest growing crypto markets, with over 4,000 Indian developers building projects on Coinbase's Base blockchain network.
Coinbase Returns to India After Regulatory Challenges
Coinbase first entered India in 2022 but paused several services due to regulatory obstacles. The exchange now operates as an FIU-IND registered platform following its 2025 registration and complies with India's virtual digital asset regulations, including tax reporting obligations. The company has invested in India's startup ecosystem through grants, hackathons, and its Base blockchain network, with more than 4,000 Indian developers building projects on Base.
New Features for Indian Crypto Traders
Indian customers can now deposit INR directly through IMPS bank transfers, withdraw INR to local bank accounts, trade spot crypto markets, access perpetual futures contracts, use advanced charting through TradingView, and connect trading APIs for professional strategies. Coinbase built dedicated INR order books to provide local liquidity while maintaining access to the exchange's global marketplace. The new system creates a direct bank-to-exchange experience, replacing previous methods that relied on intermediaries or peer-to-peer transfers.
India's Crypto Market Growth Potential
Industry estimates suggest India's crypto market could grow significantly over the next decade, driven by rising internet penetration and increasing blockchain adoption. The return of Coinbase adds another major global platform to India's competitive landscape alongside local exchanges such as CoinDCX. Coinbase brings international liquidity, institutional-grade security, and advanced trading tools. Direct INR rails reduce friction and lower risks associated with informal payment methods.
Getting Started Process
New users can begin trading through a five-step process: create a Coinbase account, complete identity verification, link a bank account, deposit INR through IMPS, and trade spot or futures markets. Users can withdraw INR directly when needed. Existing Coinbase customers in India will receive INR functionality through a phased rollout.
Regulatory Environment and Outlook
India's crypto regulatory framework includes a 30% tax on crypto gains and a 1% TDS requirement. Coinbase stated that India's combination of developer talent, trading activity, and blockchain innovation makes it a key long-term market. The company has committed to expanding its presence in the country.
FAQ
What did Coinbase launch in India on June 1?
Coinbase launched direct INR deposits and withdrawals in India starting June 1, allowing users to transfer funds through IMPS, trade cryptocurrencies, and withdraw INR to bank accounts without using peer-to-peer workarounds.
Why did Coinbase pause services in India previously?
Coinbase first entered India in 2022 but paused several services due to regulatory obstacles. The exchange resumed operations after registering with India's Financial Intelligence Unit (FIU-IND) in 2025 and aligning with local virtual digital asset regulations.
