Coinbase opened direct INR deposits and withdrawals for Indian retail traders, adding IMPS access for faster bank-to- crypto transfers. The rollout follows FIU registration and expands spot, futures, and advanced trading tools.
Key Takeaways:
- Coinbase added direct INR deposits and withdrawals through India’s IMPS payments system.
- Retail traders gain faster banking access, local order books, and global exchange liquidity.
- Compliance registration may help Coinbase compete in India’s highly active crypto market.
Coinbase Expands India Crypto Push With Direct INR Access
Crypto exchange Coinbase (Nasdaq: COIN) has expanded Indian retail access with direct INR deposits and withdrawals, deepening its trading presence in one of the world’s most active crypto markets. The launch gives users access to IMPS, an instant interbank payments system in India, alongside spot markets and perpetual futures.
For Indian traders, the move creates a faster path between bank accounts and crypto markets. Local INR order books will serve Indian customers while preserving access to Coinbase’s global exchange. Coinbase Advanced also adds APIs, multiple order types, Tradingview charts, and Websocket streaming, a real-time connection that sends live order book updates between platforms and users.
In its May 31 announcement, Coinbase described:
“Today, we’re taking the next step: making Coinbase fully accessible to Indian retail traders with direct INR support.”
The expansion follows an earlier attempt to build a larger retail presence in India. Coinbase launched retail crypto services in the country in April 2022 and initially enabled purchases through the Unified Payments Interface, India’s dominant real-time payments network. Days later, the National Payments Corporation of India said it was not aware of any crypto exchange using UPI, prompting Coinbase to suspend the service. Coinbase later secured registration with India’s Financial Intelligence Unit (FIU-IND) on March 11, 2025, a key compliance milestone that paved the way for the latest direct INR launch.
India’s Crypto Adoption Raises the Stakes for Coinbase
The direct INR launch fits into a broader India strategy. Coinbase said it has invested in Coindcx, supported Base builders, and put more than $1 million into Indian hackathons, grants, and fellowships. More than 4,000 builders in India have built on Base, with about 150 projects growing into startups. Those figures make India both a trading market and a developer base.
Compliance sits at the center of the expansion. The exchange said it is registered with FIU-IND and follows Indian taxation requirements. It also highlighted its Nasdaq listing, S&P 500 membership, quarterly audited financials, cold storage practices, and crime insurance policy. For Indian users, the pitch combines local payments, global liquidity, and a regulated operating framework.
Coinbase highlighted India’s role in its broader crypto strategy:
“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. We’ve been paying attention for a while.”
India’s crypto market remains active under tax and compliance rules rather than a dedicated crypto law. Digital asset gains face a 30% tax, while transfers face 1% TDS, or tax deducted at source, which requires a portion of qualifying transactions to be withheld for tax reporting. Exchanges serving Indian users must meet FIU-IND anti-money laundering obligations. Chainalysis ranked India No. 1 in its 2025 Global Crypto Adoption Index, ahead of the United States, citing broad adoption across centralized services, decentralized finance, and retail activity.