Coinbase launches rupee bank rails in India after FIU nod
Coinbase has launched direct Indian rupee bank rails in India, allowing users to deposit and withdraw INR through the Immediate Payment Service (IMPS) and trade spot markets, perpetual futures, and use Advanced Trade on one platform. The expansion follows Coinbase’s registration with India’s Financial Intelligence Unit in March 2025, which gives it a formal AML-compliant operating basis in the country. The move is a renewed push after Coinbase’s 2022 attempt to support UPI-based deposits quickly stalled when payments partners backed away. Coinbase is entering a competitive market that already includes local exchanges such as CoinDCX, CoinSwitch, ZebPay, and WazirX, as well as global rivals that mostly rely on crypto-only or peer-to-peer access. India remains strategically important despite tax and policy headwinds, and Chainalysis ranks it first globally in crypto adoption.
