Coinbase Launches Direct Indian Rupee Deposit and Withdrawal Rails
Coinbase has launched direct INR banking rails in India using IMPS, letting users deposit and withdraw rupees without peer-to-peer intermediaries. It also added dedicated INR order books, so Indian traders can buy and sell directly in rupees instead of routing through stablecoins or other assets. Alongside this, Coinbase introduced perpetual futures on major cryptocurrencies, giving Indian users access to leveraged products already popular on regional exchanges. The rollout is enabled by Coinbase’s registration with India’s Financial Intelligence Unit, marking a major compliance and infrastructure step after earlier regulatory setbacks. Coinbase executives said the company is committed to India long term and is rolling out the new rails gradually. The move follows Coinbase’s failed 2022 India launch and later exit, after which local exchanges gained share. India remains one of the world’s largest crypto markets despite heavy taxes on gains and transactions.
