Coinbase has opened direct Indian rupee (INR) deposits and withdrawals for customers in India, allowing them to move money between bank accounts and exchanges without intermediaries.
Release occurs gradually. Several Indian users reported that “Purchasing is not supported” after uploading, while the company says the feature is expanding.
Coinbase Second Test After 2022 Retreat
Coinbase New ways to get money through Immediate Payment Service (IMPS), India’s banking transfer system. It does not use Unified Payments Interface (UPI) at this time.
That choice is important. In 2022, the exchange started with UPI support and stopped within three days. The suspension follows the instructions of the National Payments Corporation of India.
Chief Executive Brian Armstrong later criticized the opportunity pressure from the Reserve Bank of India. The dispute forced Coinbase to conduct crypto-to-crypto transactions with a snag after launch.
Coinbase also opened India registration last year but returned without fiat supportkeeping users trading crypto-to-crypto. By opting for IMPS now, it leaves UPI mainly, though IMPS, too, runs the railways that NPCI operates. The exchange is registered with India’s Financial Intelligence Unit (FIU-IND).
On X, one user said that he completed the ride with KYC to hit the purchase. Coinbase India’s head of product, Akshay Chugh, defines the limit as a street release rather than a nationwide ban.
Heavy Tax Sale
The setup adds futures and fixed futures trading, supported by the INR order book. This allows Indian users to trade in domestic currency and not at international rates. Offering unlimited futures to retail investors also pushes it into the gray area, as India still doesn’t have a dedicated crypto law.
Coinbase has said that INR deposits have no fees, while the exchange rate seeks to match its competitors. Direct banking channels also reduce the fees found in peer-to-peer channels that Indian users have come to rely on.
One predict sees India’s crypto market approaching $14 billion by 2034. Local demand remains strong despite domestic market prices.
The market is big but heavy. Chainalysis makes India the first adopter of crypto. However, it is flat 30% tax on profits and the 1% tax deducted at source still applies.
India’s budget for 2026 kept all these prices unchanged. The administration has already said so pushed the volume of trade offshoreand many Indian events are now run by foreign platforms.
Coinbase also has power after that The price of CoinDCX sharesone of the largest exchanges in India. The price makes him reach the place where he is making his rupee railways.
To differentiate itself from its competitors, Coinbase points to its NASDAQ listing, corporate governance service, and high liquidity. That investment is aimed at conservative and high-risk traders.
A note Coinbase Opens Direct INR Payments to Indian Users appeared for the first time BeInCrypto.
