Coinbase Re-Enters India with Direct INR Deposits, Trading and Withdrawals

In a major boost for India’s crypto industry, global exchange Coinbase has re-entered the country. The crypto exchange has launched direct INR deposits, trading, and withdrawals support, enabling easy bank-to-crypto transfers.

The move eliminates reliance on risky peer-to-peer (P2P) transfers and marks a key expansion of its services in Asia’s third-largest economy after years of regulatory navigation and ecosystem investments.

Coinbase Officially Launches in India with Direct INR Support via IMPS

Coinbase has rolled out direct INR rails powered by India’s IMPS payment service. Indian users can now deposit INR directly from their bank accounts, trade on spot and perpetual futures markets. When done, users can withdraw funds back to their linked bank accounts, according to the official blog.

Coinbase discontinued its services ​in India in 2023. It resumed crypto ​trading after the FIU registration last year. Security has become a priority, with the majority of customer crypto holdings held in cold storage. Also, it is backed by dedicated crime insurance and regular audits.

The INR support feature is currently being rolled out to existing users. New users need to create an account on the exchange. Moreover, no deposit fees apply to INR transfers and Coinbase even offers competitive taker fees compared to local exchanges.

How Deposits, Trading and Withdrawals Will Work

Coinbase noted the process flow is straightforward, starting with linking your Indian bank accounts. Use IMPS service to deposit INR instantly.

Users can do trading across local INR order books for spot crypto pairs and perpetual futures on major assets such as Bitcoin, Ethereum, XRP, Solana, among others. Users can withdraw INR back to their bank account easily.

This removes challenges that previously forced users toward P2P crypto exchanges. Coinbase has confirmed the flow works end-to-end with the same global infrastructure trusted by institutions worldwide.

Beyond basic transfers, Indian traders gain access to Coinbase Advanced. The platform will offer lower taker fees than other local platforms, deep global liquidity for Indian customers, and large order books. This helps to achieve tighter spreads and lower slippage compared to smaller local exchanges.

Coinbase’s Full Regulatory Compliance and Investments in India

Coinbase is officially registered with the Financial Intelligence Unit (FIU) and complies with all Indian taxation requirements, including the 30% crypto tax and 1% TDS.

“We registered with FIU-IND and comply with all Indian taxation law requirements, because we’re here for the long term,” said Coinbase regional market director John O’Loghlen. He added that “India is our North Star.”

Roshan Prabhakar, who led the India launch, posted on LinkedIn: “This is just day 1 in our effort to bring the most trusted, compliant and secure cryptocurrency platform that the Indian users deserve. More to come soon!” He credited the entire cross-functional team for the milestone.

With India’s crypto market estimated in the billions, the launch is expected to improve liquidity, reduce costs, and bring institutional-grade tools to retail traders. It follows Coinbase’s earlier investments, including a stake in CoinDCX and over $1 million committed to Indian builders on its Base layer-2 network.

Coinbase also sponsored Indian students and founders to the Network School in Malaysia. It flew teams to New York and San Francisco to pitch at demo days, while continuing on-the-ground presence across the country.

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