Coinbase re-enters India with direct bank-to-crypto transfers
What's the story
Popular cryptocurrency exchange Coinbase has launched direct Indian rupee (INR) deposit and withdrawal services for retail users in India. The move will allow Indian customers to fund and withdraw from their accounts through the Immediate Payment Service (IMPS). This way, they can make direct rupee transactions without relying on peer-to-peer (P2P) mechanisms or intermediaries.
Enhanced offerings
Spot trading and perpetual futures contracts
Along with direct INR support, Coinbase is also offering spot trading across multiple crypto assets and perpetual futures contracts linked to major cryptocurrencies. The company has launched local rupee order books to provide dedicated liquidity for Indian traders while maintaining access to its global exchange infrastructure. This strategic move is part of Coinbase's efforts to strengthen its presence in India, a key market for crypto trading activity, blockchain adoption, and developer talent.
Past investments
Coinbase's investments in Indian crypto ecosystem
Coinbase has previously invested in the Indian crypto ecosystem, including backing domestic exchange CoinDCX. Through its Ethereum Layer-2 network 'Base,' the company has given more than $1 million in grants, fellowships, and hackathons for developers in India. The company also highlighted initiatives such as supporting Indian founders and students through training programs and international demo-day events.
User access
Advanced trading features and regulatory compliance
Coinbase users will be able to access advanced trading features through Coinbase Advanced. These include application programming interfaces (APIs), order-book streaming, and multiple order types. The platform also integrates TradingView charting tools for an enhanced trading experience. Coinbase is registered with India's Financial Intelligence Unit (FIU-IND) and complies with local taxation requirements applicable to virtual digital asset service providers.