Coinbase makes a major play for India’s booming $3 billion crypto market with local currency launch
Summary
Coinbase is launching direct Indian rupee payment rails for users in India starting June 1, 2026, allowing deposits and withdrawals through the Immediate Payment Service (IMPS) directly from bank accounts. The move removes reliance on P2P markets and intermediaries, aiming to reduce delays, scams, and bank-account freezes tied to unclear payment trails. Coinbase will also offer local INR order books, spot trading for major assets, perpetual futures, and Coinbase Advanced tools with TradingView and APIs. The company says India is a key crypto market and is backing the rollout with FIU-IND registration to strengthen its regulatory footing after a prior UPI launch failed in 2022.
