Coinbase launches direct INR bank transfers for crypto users in India

Crypto exchange Coinbase on Monday launched direct INR rails for customers in India, allowing users to deposit and withdraw funds directly from their bank accounts through the Immediate Payment Service (IMPS).

The Nasdaq-listed company said Indian customers can now access spot trading across a range of digital assets as well as perpetual futures contracts linked to major cryptocurrencies.

“Indian customers can now deposit and withdraw INR directly from their bank accounts via IMPS, without reliance on P2P rails or intermediaries.” it said in a release today.

The move comes after Coinbase resumed onboarding users in India in October 2025, following a more than two-year suspension amid regulatory pressure on payment infrastructure.

Coinbase added that it has built local INR order books to provide dedicated liquidity for Indian users while continuing to offer access to its global exchange.

The company said it is registered with the Financial Intelligence Unit-India (FIU-IND) and operates in compliance with Indian regulations applicable to virtual digital asset service providers.

"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," said John O'Loghlen, Head of APAC, Coinbase.

"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," he added.

Coinbase said users will have access to Coinbase Advanced, its professional trading platform that offers institutional-grade APIs, WebSocket order book streaming, advanced order types, and integrated TradingView charting tools.

The company said its platform charges no fees for INR deposits and offers competitive trading fees compared with local exchanges. It also highlighted access to deep global liquidity, which it said could help reduce spreads and slippage for traders.

On the security front, Coinbase said it stores the majority of customer crypto assets in cold storage, maintains a dedicated crime insurance policy, and undergoes regular audits against industry security standards. The company also publishes audited financial statements on a quarterly basis.

The launch marks a further expansion of Coinbase's presence in India. The company is an investor in crypto exchange CoinDCX and has supported India's blockchain ecosystem through Base, its Ethereum Layer-2 network.

According to Coinbase, it has invested more than $1 million in India's developer community through grants, hackathons, and fellowships. The company said more than 4,000 builders in India have developed applications on Base, with around 150 projects evolving into startups.