Nasdaq-listed exchange Coinbase on Monday announced a major market move: the launch of direct rails for Indian rupees (INR).
Starting June 1, 2026, Indian exchange clients can deposit and withdraw rupees directly from their bank accounts through the Immediate Payment Service (IMPS), a move designed to eliminate the need for intermediaries and simplify the often complicated process of entering the cryptocurrency market in the region.
For a long time, Indians have had to rely on Peer-to-Peer (P2P) marketplaces or third-party intermediaries to fund their crypto accounts. This method can be slow and sometimes risky, often leaving vulnerable users exposed to payment scams or having their bank accounts suddenly frozen by authorities due to suspicious fund trails from unknown counterparties. Coinbase is avoiding that by integrating directly with the Immediate Payment Service (IMPS).
Coinbase’s latest move means its customers can transfer funds from their local bank accounts directly to the Coinbase platform and vice versa.
“India has long been one of the most important cryptocurrency markets, in terms of developer talent, commercial activity, and the broader adoption of blockchain technology,” said John O’Loghlen, Coinbase’s head of APAC, in the announcement shared with CoinDesk.
The country has been ranked among the top countries driving cryptocurrency adoption in the APAC market in 2025, and ranks first in the Global Crypto Adoption Index, according to data from Chainalysis. In fact, according to consulting firm Imarc, the Indian cryptocurrency market reached $3.04 billion in 2025 and is expected to reach $14.21 billion in 2034, growing at a CAGR of 18.66% over the period 2026-2034.
“Here for the long term”
However, the launch is not just for beginners. While retail traders can access spot markets for major assets, the platform is also introducing perpetual futures contracts.
For the “professional” audience, the “Coinbase Advanced” suite will offer institutional-grade tools, including TradingView integration and sophisticated APIs. In particular, by creating local INR order books, Coinbase ensures that users do not trade global prices, but instead have dedicated liquidity directly at home.
The goal is to provide the same platform that global institutions rely on to India’s huge retail base, Coinbase said.
Regulation has always been the elephant in the space for cryptocurrencies in India.
Coinbase opened its platform to Indians for the first time in 2022, but hit a roadblock within days when UPI operator National Payments Corporation of India (NPCI) dismissed Coinbase’s then-launch of UPI support, saying it was not aware of any such deal involving a crypto exchange.
Coinbase is tackling regulatory challenges head-on this time by registering with the Financial Intelligence Unit (FIU-IND), the central national agency responsible for analyzing and disseminating information on suspicious financial transactions.
The UIF registration is a clear sign that the exchange is seeking a long-term presence in the world’s fastest-growing major economy and most populous country.
The latest offering builds on years of quiet groundwork. Coinbase is already an investor in local exchange CoinDCX and has funneled over $1 million to Indian developers through its Layer 2 “Base” network.
“With the launch of direct INR lanes, we are making Coinbase fully accessible to Indian retail traders, with the same platform trusted by institutions and merchants around the world. We are registered with FIU-IND and here for the long haul,” O’Loghlen said.
