Coinbase has enabled direct rupee banking connections in India, making it easier for local customers to move money between bank accounts and the exchange’s cryptocurrency markets as the company deepens its expansion into one of the world’s fastest-growing digital asset markets.
Indian users can now deposit and withdraw Indian rupees through the Immediate Payment Service (IMPS) instant payments network and access the company’s spot, futures and Advanced Trade interface markets through a single platform, according to the company’s blog. post published on Sunday.
The move marks Coinbase’s latest move to expand its presence in India since its tumultuous debut in 2022, and follows the company’s actions registration with the Indian Financial Intelligence Unit, which will provide it with a formal regulatory basis in the market.
In 2022, Coinbase briefly supported Unified Payment Interface (UPI)-based rupee deposits before parking them a few days after launch, after payment authorities distanced themselves from using the crypto network and partners stopped enabling UPI for exchanges.
Related: Coinbase provides global cryptocurrency markets to institutional clients
Coinbase registered with India’s Financial Intelligence Unit in March 2025, which the company says allows it to offer cryptocurrency trading services in India under the country’s anti-money laundering (AML) regulations.
India ranks first in the global cryptocurrency adoption index
Coinbase is entering a crowded but strategically vital arena where domestic platforms such as CoinDCX, CoinSwitch, ZebPay and WazirX already serve Indian traders.
Chainalytic Global Crypto Adoption Index, 2025. Source: Chain analysis
Global exchanges such as Binance and KuCoin are also widely used, but are largely based on cryptocurrency-only rupees or peer-to-peer rupees accessrather than the IMPS-based direct banking rails that Coinbase currently offers.
With rupee deposits and withdrawals already busy, Coinbase provides Indian users with direct bank to cryptocurrency transfers, in addition to spot trading, futures and Advanced Trade platform, and claims to have built local INR order books for concentrated domestic liquidity along with access to its global exchange.
India has become a key prize for global exchanges despite political obstacles, including 30% tax on many profits from digital assets and 1% withholding tax on certain transactions.
Chain analysis ranking India ranks first in its Global Crypto Adoption Index for 2025, ahead of 150 other countries, based on factors such as online retail activity, apply of centralized exchanges and decentralized finance protocols, and transaction volumes, illustrating the scale of grassroots adoption that platforms like Coinbase are trying to leverage.
Warehouse: Top and Emerging Global Crypto Hubs Guide – Mid 2026
