Coinbase halts INR withdrawals amid banking partner outage
What's the story
Coinbase, a US-based cryptocurrency exchange, has suspended Indian rupee (INR) withdrawals for its users in India. The suspension comes after an outage at one of its banking partners. The disruption is not limited to Coinbase but is affecting the bank's payouts for all its clients. Despite the withdrawal suspension, Coinbase has assured that INR deposits via Unified Payments Interface (UPI) and bank account linking are still operational.
User reassurance
Funds remain safe, withdrawal services remain suspended
In light of the ongoing disruption, Coinbase has assured its users that their funds are safe.
The company is actively working with the affected banking partner to restore withdrawal services.
However, it has not given a specific timeline for when these services will resume.
The issue was first reported on November 9, 2026, according to Coinbase's status page.
User advisory
Coinbase advises users against initiating new INR withdrawals
In light of the ongoing disruption, Coinbase has advised its users against initiating any new INR withdrawal requests.
The company warned that such transactions could either fail or remain pending until the issue is resolved.
This advisory comes as part of Coinbase's effort to manage user expectations and minimize potential transaction failures during this period of banking partner outage.
Service expansion
Impact on Coinbase's operations in India
Coinbase expanded its services to India in 2026, allowing direct INR deposits and withdrawals via the Immediate Payment Service (IMPS) channel.
The move also opened up spot trading across cryptocurrency assets and perpetual futures contracts for Indian users.
The current banking partner outage is a disruption for Coinbase's operations in the country, affecting its ability to process INR withdrawals.