Coinbase has introduced direct banking support for Indian Rupees (INR), enabling users in India to deposit and withdraw funds directly through the platform. This move eliminates reliance on peer-to-peer trading and other indirect methods, streamlining cryptocurrency transactions for Indian customers.
To facilitate these transfers, Coinbase utilizes India's Immediate Payment Service (IMPS), a widely used interbank fund transfer system. This integration supports faster and more secure fiat currency transactions, providing dedicated liquidity via local INR order books. Indian users continue to have access to Coinbase’s global exchange alongside spot trading and perpetual futures contracts on major cryptocurrencies.
This latest development marks a significant milestone in Coinbase’s ongoing expansion efforts in India. The platform had previously entered the market but faced setbacks—initially suspending Unified Payments Interface (UPI) transactions shortly after launch, then exiting India completely the following year. Coinbase’s 2025 return came with regulatory approval from India’s Financial Intelligence Unit (FIU), allowing it to comply with local virtual digital asset service regulations under the FIU-IND registration.
Since its recent full relaunch, users had limited options to fund accounts with INR until now. The addition of direct on-ramps and off-ramps for fiat will likely improve user experience and accessibility, especially for retail traders relying on seamless fund transfers.
Beyond exchange services, Coinbase has invested heavily in India’s digital asset ecosystem. The firm is a backer of CoinDCX, one of the country’s leading cryptocurrency platforms. Additionally, through its Ethereum Layer 2 network, Base, Coinbase has committed over $1 million to support the Indian builder community via initiatives such as hackathons, fellowships, and grants.
In related market activity, Bitcoin prices on Coinbase have recently trended lower compared to Binance, evidenced by a deepening premium gap metric. This widening price difference may reflect changing user behavior on Coinbase amid the cryptocurrency’s decline since mid-May.